Engineering Insurance Market in the MENA Region: Industry News and Developments

Engineering Insurance Market in the MENA Region: Industry News and Developments

As infrastructure development, urban expansion, and mega-projects continue to shape the landscape of the Middle East and North Africa (MENA) region, engineering insurance has become a vital component for mitigating construction and operational risks. Below is an overview of recent news and market trends impacting the engineering insurance sector in the region:

📈 Growing Demand Driven by Regional Mega-Projects

The surge in large-scale infrastructure initiatives such as Neom in Saudi Arabia, Expo City Dubai, and significant energy and transport projects in Egypt, Oman, and Qatar has fuelled rising demand for comprehensive engineering insurance products. This includes coverage for:

• Contractors’ All Risks (CAR)
• Erection All Risks (EAR)
• Delay in Start-Up (DSU)
• Machinery Breakdown (MB)
• Civil Engineering Completed Risks (CECR)

Industry reports note that regional governments and international investors increasingly require comprehensive insurance programs for major public-private partnerships (PPPs) and infrastructure ventures.

Source:

• Middle East Insurance Review