Regarding the lack of life insurances development in Iran, Hossein Salimi, member of the Middle East Life Insurance board of directors, stated in developed countries and western nations at least 30 % of people have life insurance, but this figure in Iran is very nominal. He added, based on sixth development plan the share of life insurance should reach 50 percent.
Salimi went on to say that while Iran's banking industry has grown significantly in recent years, the insurance industry hasn't grown to the same extent.
"There is no still necessary education concerning insurance to individuals and also people's cultural beliefs are not such as to encourage them to buy insurance policies, while insurance can help people at the time of loss and incidents" he said.
Vice-chairman of the Money and Capital Market Commission of Tehran Chamber of Commerce mentioned that insurance companies don't provide enough information about services and payments for various damages such as paid damages for Plasco building.
Member of the Middle East Life Insurance board of directors stressed that the general director of central insurance declared the figure of existing risks needing insurance coverage in Iran is 3 trillion dollars, which is completely correct, but unfortunatelly this risk doesn't have sufficient coverage due to different reasons.
