UAE Fire Premiums To Rise

Premiums to be paid for insuring high-rise buildings in Dubai would rise next year, following a number of building fires in Dubai, including the Torch Tower in the Marina area, which caught fire in August for the second time in two years. But the increases are expected to be moderate.

Any potential rise in premiums will be partly driven by increased demand for insurance as awareness grows of how some of Dubai's apartment blocks are at risk 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, reported Arab News citing the experts.