Insurance Hike Expected For Dubai High-Rises After Fires

LONDON: The cost of insuring high rises in Dubai is expected to rise following a number of building fires in the emirate, including the Torch Tower in the Marina area, which caught alight in August for the second time in two years.
Any potential rise in premiums will be partly driven by increased demand for insurance as awareness grows of how at risk some of Dubai's apartment blocks are to fire outbreaks, according to insurance market experts.
Many tall buildings in the emirate still have inadequate fire safety standards, with some still clad with poor-quality material that allows blazes to spread quickly, they said.
"The fire incidents have continued to occur, as the core problem of flammable cladding has unfortunately not been solved," said Michael Kortbawi, partner at the Dubai-based law firm, BSA Ahmad Bin Hezeem & Associates.