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25.02.2015
After the recent fire at the Marina' Torch tower, Dubai plans on investigating Dubai real estate insurance regulations.
The Dubai Land Department (DLD) is studying new measures for real estate insurance in Dubai, Sultan Butti bin Mejren, director general of the DLD, was quoted as saying by Al Ittihad newspaper.
The new law will identify the various responsibilities of all involved and include payments and settlement of receivables in the event of accidents. Bin Mejren told Al Ittihad that the study will be finished within the next two months.
He stressed that new procedures and mechanisms will be adopted after this. He added the new measures will facilitate home owners’ associations, developers and companies deal with insurance policies and ways to settle receivables in the event of any incident.
