Adnan Ahmed Yousif, board member of the Union of Arab Banks (UAB) and president and chief executive of Al Baraka Banking Group, was today announced as the keynote speaker for the upcoming “Professional Liability Insurance Forum,” to be held in Bahrain in October.

 

The event, on October 21 and 22 at the Ritz Carlton, is being  organized by the General Arab Insurance Federation (GAIF) in cooperation with the Bahrain Insurance Association (BIA), under the Patronage of the Central Bank of Bahrain (CBB).

 

The two day forum will gather more than 300 members of GAIF, leading insurance firms and other industry players, in addition to banks and corporates from the GCC and Mena, as well as Africa. 

 

The forum will focus on a broad range of issues related to professional liability risk across sectors as well other risks associated with political violence. 

 

Key to this will be a discussion on Banker’s Blanket Bonds (BBB), a bond purchased by financial institutions from insurance brokers to protect a bank against losses from a variety of criminal acts carried out by employees. The forum will build awareness of the value of BBBs as specific to the banking industry as well as risk management solutions for other sectors. 

 

Yousif said: “This is a timely event for the financial services sector as well as others and I’m pleased that I will have the opportunity to address participants at the upcoming forum. With the growth and further development of the banking industry in addition to other key sectors of the economy, risk also increases. Drawing on Bahrain’s position as a leading hub for financial services including insurance and reinsurance, we expect strong participation and high level discussion on the innovative solutions and products available to corporates and the financial sector as we all work hard to mitigate and manage a broad range of risk in today’s increasingly challenging business and economic climate.”   - TradeArabia News Service