Insurance enhances building quality, sustainability: Malath CEO

Fawaz Al Hijji, CEO & MD of Malath Cooperative Insurance Co.

Malath Cooperative Insurance Co. aims to bring the role of insurance to raise the quality and sustainability of a building and the used materials to the limelight, CEO and Managing Director Fawaz Al Hijji told Argaam on the sidelines of the Real Estate Future Forum in Riyadh.

The inherent defects insurance is not only an insurance, but a product that raises the building quality. It enhances the mechanism used by contractors for building.

Al Hijji added that Malath launched the ZED car insurance product for third parties. He company plans more innovative offerings.

Moreover, the imposition of fines helps protect the rights of both parties and develops the market products, particularly in car insurance.

The automated traffic management system contributed to the emergence of a large number of insured cars, a positive step that was earlier implemented by the company.