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Tue 2 Oct 2007 12:00 AM

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Raising insurance standards

New standards of professional certification could be set for the region's insurance industry, thanks to an initiative by Nexus in partnership with the UK's Chartered Insurance Institute (CII).

New standards of professional certification could be set for the region's insurance industry, thanks to an initiative by Nexus in partnership with the UK's Chartered Insurance Institute (CII).

The two organisations are working together to establish new certifications that would increase the level and standard of training among insurers in the Middle East. They hope to increase the levels of insurance in the region - which compared to the rest of the world are low at 2% in the Middle East compared to the average of 10% in European markets.

Nexus believes that by increasing the levels of professional certification among insurance industry professionals, it will help to improve standards and boost public confidence in the sector.

Mahmoud Nodjoumi, owner and CEO of Nexus, said: "If the potential of the insurance market in the Middle East is to be realised, clients must have faith in the competency of the advice they are receiving. Nexus believes our first responsibility is to the individuals, families and corporate customers who place their trust in us."

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