The United Arab Emirates has launched a new insurance system tailored for individual accounts, accessible through the specialized gold and silver investment app “O Gold,” in partnership with Dubai National Insurance. This initiative marks a significant advancement in security and transparency standards within the precious metals investment sector.
This development transitions from a company-wide collective insurance model to individualized insurance policies for each account, with no additional cost to users. This change ensures direct and clear protection for each client, bolstering confidence in asset management.
Bander Al-Othman, the founder of “O Gold,” stated that this initiative underscores the company’s commitment to delivering the highest levels of security. He emphasized that the new system provides clients peace of mind from the moment they purchase assets until they are securely stored.
A notable feature of this coverage is the inclusion of war risk, which encompasses damage resulting from unrest and hostilities occurring during asset transfers, with no specific limit on coverage. This enhances protection during extraordinary circumstances.
Moreover, the insurance covers physical and environmental risks associated with storage in secure vaults within the UAE. It provides a clear outline of coverage scope and exclusions, such as natural wear or effects from heat and humidity that are not related to insured incidents.
This launch follows the success of the “Silver Wakalah Earnings” service, further solidifying “O Gold” as a digital investment platform that offers secure and transparent solutions.