The Institute of Chartered Accountants of India (ICAI), Doha chapter in association with The Institute of Internal Auditors (IIA), organised a seminar on Threats to the Insurance Industry and impact on cost of insurance at the La Cigale Hotel recently.

The ICAI Chapter Chairman CA Kurian Kuriakose welcomed the keynote speaker Ian Sangster, CEO of QIC International LLC. The main sponsor for the event was Qatar Insurance Company - QIC.

Opening the Seminar Kuriakose said, Though not as visible as the changes in banking and finance industry, the recent financial crisis and ensuing recession has resulted in profound changes to the Insurance Industry. It has changed the old equations in the business of risk taking. While everyone agreed the need for insurance, not many were clear about the optimum pricing for insurance

Sangster advised that 2008 had promised so much as the financial markets rode the crest of a wave a huge global money machine that, like all others, turned out to be yet another bubble.

Rajeswar Sundaresan, member of the Board of Governors of IIA proposed the vote of thanks. HSBC is an annual sponsor and Ras Gas and Doha Bank are annual support sponsors for the ICAI Doha Chapter activities.