Energy Summit: Insurance promotes investment in energy sector

Experts highlighted the critical impor­tance of insurance for the sustainable de­velopment of multiple energy resources, including power, oil, and gas, aimed at promoting investment opportunities, in­novations, and efficiencies within the sec­tor in Pakistan. Speaking at the Energy Summit here in Karachi recently, Chair­man Lockton MENA Ata Khatib said the energy sector is transforming globally through innovation and technology to ad­dress the requirements of economies, keeping in view the overriding challenge of global warming and climate change.

He said the insurance of the energy sector, including power plants and re­fineries, is indispensable in compliance with international standards, giving confidence to foreign investors in the Pakistani market on a long-term basis. Insurance coverage enhances investor confidence by offering assurance against potential risks and uncertainties. Lend­ers and investors often require insur­ance as a prerequisite for financing re­newable energy projects, recognizing its role in safeguarding their interests and ensuring project bankability, he added.

Read more: https://www.nation.com.pk/10-Mar-2024/energy-summit-insurance-promotes-investment-in-energy-sector