Slow growth of fire insurance

Despite the significant development of the housing stock in recent years, the number of fire policies has hardly increased, going from 12 963 contracts in 2010 up to 14 009 in 2012. This insignificant evolution proves that owners do not bother to insure their property.
Meanwhile the number of fire claims jumped from 2 540 cases in 2008 to 4 431 in 2012. With 972 289 insurance policies purchased, the motor class of business now accounts for 88.5% of all contracts reported in the sultanate.