Discussion
Session Addresses Industrial Facility Insurance, Safety Requirements

Muscat,
4 Mar 2026 (ONA) — The Financial Services Authority (FSA) organized a
discussion session today in Muscat titled “Insurance of Industrial
Facilities and Security and Safety Requirements” to examine the challenges
faced by various industrial facilities in obtaining appropriate insurance
coverage for their diverse industrial activities.

The
session discussed practical proposals and solutions intended to enhance levels
of protection and preventive readiness within this vital sector, thereby
supporting the sustainability of industrial operations, promoting business
continuity, and providing a safe and attractive investment environment.

Abdullah
Salim Al Salmi, CEO of the Financial Services Authority, emphasized the
importance of raising awareness regarding industrial insurance and its pivotal
role in managing the risks faced by industrial facilities. He noted an existing
gap in understanding between insurance companies and industrial facilities
concerning insurance requirements and security and safety standards.

He
explained that some industrial facilities face challenges in obtaining suitable
insurance coverage, while insurance companies point out that several of these
facilities are classified as high-risk if they do not meet security and safety
requirements. He stressed that fostering a risk management culture and
committing to safety standards contribute to reducing risk levels and enhance
the opportunities for facilities to obtain insurance coverage appropriate to
the nature of their industrial activities.

The
session included the presentation of several practical proposals and solutions,
aiming to produce qualitative outcomes for the sector to enhance institutional
integration and unify efforts between regulatory and operational entities. This
session comes as part of the endeavor to build an integrated system for
industrial risk management and to elevate levels of safety and sustainability
within the industrial environment.

The
session was attended by the Undersecretary of the Ministry of Commerce,
Industry and Investment Promotion for Commerce and Industry; the Vice Chairman
of the Public Authority for Special Economic Zones and Free Zones; and
representatives from several government and private entities, including Oman
Chamber of Commerce and Industry and “Madayn,” as well as
representatives from insurance companies and industrial facilities.

—Ends/AG