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Looming tropical cyclone season spurs calls for National Disaster Fund By CONRAD PRABHU
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Calls for the institution of a National Catastrophe Insurance Fund to help mitigate the impacts of natural and man-made disasters have gained traction following the extensive damage to residential homes, farmland and small businesses caused by recent thunderstorms in various parts of the Sultanate. These appeals have also gained weight as the annual tropical cyclone season looms, bringing with it the threat of economic disruption, human loss, and property and infrastructure damage.
Leading these calls, this time around, is a senior official of Oman Chamber of Commerce and Industry (OCCI), who has long advocated for robust insurance legislation to ensure effective coverage across key aspects of socioeconomic life in the Sultanate.