CMA organized a training programme on fire insurance to qualify national cadres in insurance.

04 July 2018

The Capital Market Authority continues the training programmes of Tamkeen Plan.

CMA organized  a training programme  on fire insurance to qualify national cadres in insurance.

Al Rashidi: training programmes of Tamkeen Plan 2018  includes extended programs in insurance, health insurance and training opportunities outside Oman.

Fire Insurance is the first training program in the approved  training programmes of Tamkeen Plan 2018, in the context of the continuous annual plans during the last three years, which are adopted by Capital Market Authority annually to qualify national cadres working in the insurance sector.

The  fire insurance program held following the official launch of the new Omanization vision (Tamkeen)  plan approved by CMA  in coordination with the Ministry of Manpower last April, which aims at empowering and enhancing the skills of  national cadres in the technical and administrative posts within a specific period of time.

The program aims to acquaint the trainees with knowledge relating to practical aspects of fire insurance, terms and conditions and settlement of indemnities and practical applications skills. The trainees valued this type of program as it serves the nature of their jobs which  provides them with correct information.

On this year's plan of Tamkeen to  train national cadres working in the insurance sector, Rashid Al Rashdi, Vice Chairman of the Insurance Training Committee, said that the training program on fire insurance is part of a series of training programs and training workshops focused on national cadres  working in the insurance sector and job seekers from collages graduated of commercial and accounting sciences in order to complement the efforts of the CMA on implement the policy of Omanization based on empowerment, which was launched three years ago.


Al Rashidi added that the Insurance Training Committee adopted a new method this year after evaluating the experiences of the last three years. They have identified 8 specialized training programs of various insurance sciences, including specialized programs in  development of leadership skills and  self-development along with long term courses extended for three weeks on introduction of insurance, a specialized program in health insurance and a third program in the development of communication skills in English language, and will provide training opportunities outside the Sultanate in  coordination with specialized  insurance institutions with the  aim of exchanging   experience and information with  insurance markets in the other countries.


Al Rashidi stressed that these efforts since 2015 aim to achieve quality Omanization ratios s and realize the vision of empowering the national cadres working in the sector, especially that the countdown has started to reach the Omanization ratios specified in the three levels of insurance companies and brokers gradually until the end of 2020. He added,  we aim to enable national cadres at  50% in the senior  levels, 75% for middle level to 50% and 90% in  operational roles.


The participants in the fire insurance program expressed their satisfaction with  these kinds of training  programs. Abdul Majeed Al-Abri, an employee of the underwriting  department  of Oman United Insurance Company, said he  benefited  from the  program because it  provided useful information for  practice . "This type of training program serves the nature of our work in the Insurance market and it is  a good opportunity to compete for it "

Amira Al Balushi  of RMS Risk Insurance Broker said  “We  learned more about the rules, terms and exceptions of fire insurance included in the program, and we believe that the continued interest in our training in such programs would undoubtedly contribute to the expansion of our perception about insurance of various types and gives us more confidence to start and engage in the Omani insurance market. we are fully aware that there are opportunities waiting for us.