Released on = February 11, 2007, 6:31 am

Press Release Author = MICE Management WLL

Industry =

Press Release Summary = Manama Bahrain: Fakhro Insurance Services General Manager,
Adrian Pinto, who has 30 years of experience in the insurance industry, recently
highlighted the importance of Home Insurance. He estimated that from around 200,000
properties existing in Bahrain approximately 75% of homeowners and tenants did not
have any type of cover and hence up to 150,000 households are taking unnecessary
risks by not having home insurance.

Press Release Body = Adrian said, "In most cases, people are automatically insured
through banks when they take out a mortgage. Much of the reluctance to take
insurance is cultural since Bahrainis have a very positive outlook towards life.
Since they are not accustomed to insurance and nothing has happened to them to
prompt them to take the insurance cover, they believe nothing will happen in the
future as well and hence they don't see any point in taking insurance."

"People are taking a risk which can be avoided by having home insurance and it is
not as expensive as people think. If you have a house with contents worth BD100, 000
then a basic cover would cost around BD125 a year which is a lot less compared to
the actual value of the contents and if you do not own the property it could cost as
little as BD25 a year," he added.

Insurance can be used to cover households from a range of potential disasters
including fire, floods, lightning, pipe bursts, explosions and damages caused due to
riots. The rapid development of the property sector on the island and the
ever-increasing congestion on the roads, which mainly leads to delay in any
assistance reaching its target area in time, increase the dangers to households.

Following the floods last month, more and more people have signed up for insurance
cover, gradually realising the importance and getting used to the concept of
investing a minor amount of money to secure their houses and its contents from
future disasters.

Fakhro Insurance Services is a part of Abdulla Yousif Fakhro group of companies and
was incorporated in January 2000 as a limited liability company. Fakhro Insurance
Services is registered with the Ministry of Commerce in Bahrain as Insurance Brokers
for all classes of insurance and are members of the Bahrain Insurance Association.


Web Site = http://www.mice-management.com

Contact Details = P O Box 20196
Mana
Bahrain
Tel: +973 17540091
Fax: +973 17540092,