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CEERISK Hosts Workshop with DIFC Insurance Association

The workshop was organised by CEERISK Consulting LLC in collaboration with DIFC Insurance Association. A large number of delegates participated in the workshop where they discussed issues related to insuring renewable energy in the MENA Region. The delegates were from diverse backgrounds with insurers, reinsurers, loss adjusters and brokers providing different perspectives on each issue brought up during the discussion.

At the start of the workshop, Mr. Alyah explained why the MENA region has an increasing demand for energy in general as a result of the population growth, proliferation of industrial and manufacturing enterprises, in addition to considerations about the ageing condition of existing infrastructure. He then highlighted how creative governments around the region are turning to renewable energy to meet that demand. He shared the UAE’s unique approach to the development of renewable energy as evidenced by the massive projects announced over the past few years. He also spoke about experience of other countries like Jordan, Egypt and Morocco who made significant strides along the way of replacing conventional power generation with clean renewable energy.

Climate change and the impact it has on the frequency and severity of inclement weather in a region historically known for mild conditions was one of the challenges unique to the MENA region that was discussed during the workshop. Other challenges discussed at the event included under-developed engineering standards that may not be harmonised across international boundaries. 

Mr. Alyah emphasised the challenge of deploying new and innovative technologies in remote locations in the “middle of nowhere”, where historical weather data is either inaccurate or non-existent. He shared case studies where damage to equipment in renewable energy plants was completely unexpected and never considered before. Different suggestions on what insurers can do to assist clients overcome these challenges and prepare for them at the very early stages of plant development were offered by different delegates. Ideas discussed included requiring contractors to maintain weather stations at the project site during construction of the plant, and utilising advanced weather models during the underwriting process.

“I greatly enjoyed and was impressed by the lively discussion that took place during the workshop,” commented Mr. Alyah at the end of the session. He emphasised how the discussion was enriched by the diverse background of the delegates.

Mamoon Alyah is the General Manager of CEERISK Consulting LLC, an Abu Dhabi based consultancy working with insurance and legal professionals to investigate the root cause of failures and develop reinstatement options to manage recovery after losses. The company also offers risk assessment and management services to insurers and clients. For more information about this workshop or to be contacted with information about future events, please contact Rose Campbell at +971 (02) 657 3434 or by email at rcampbell@ceerisk.com

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