Insure Your Property, TAN Trade Advises Exhibitors

Tanzania Daily News (Dar es Salaam)

29 June 2011

MANY exhibitors participating in the 35th Dar es Salaam International Trade Fair (DITF) seem to ignore the importance of insuring their property against fire and theft in the ten days annual event which started this week, with Tanzania Trade Development Authority (TanTrade) advising exhibitors to insure their property against losses.

TheNational Insurance Corporation of Tanzania Limited (NIC) Branch Manager for Kibaha who is in-charge of the company’s pavilion at the DITF, Mr Tibrus Massawe, said only one client has shown up at the site between Tuesday and Wednesday.

“People or exhibitors do not see the importance of getting an insurance cover to protect their property through out the trade fair,” Mr Massawe said in an exclusive interview.

He said the state owned NIC has several policies to meet demand of the local and international exhibitors to protect their property, which is exposed to various dangers within the fair premises such as fire and theft.

“We have different policies to suit people here such as all risk insurance which charges a minimum of 20/- per 1,000/- of property cover,” Massawe said.

A ‘Daily News’ survey at the Mwalimu JK Nyerere Fair grounds along Kilwa Road in the commercial capital found out that many individuals and firms were not insured.

Although incidents of large scale theft and fire outbreaks are rare at the trade fair grounds, TanTrade advised its clients not to take safety of their property for granted and instead seek insurance policies to cushion against such risks.

“All fair exhibitors are encouraged to insure their property. Exhibitors are advised to contact NIC offices within the fair grounds or any other insurance companies of their choice. TanTrade shall not be held liable for any loss of property that occurs within the premises,” a statement issued by Directorate of Trade Development of TanTrade said on Wednesday.

Safety is one of the most important aspect which trade fairs seeking international recognition as per International Trade Fair Academy, need to adhere to. TanTrade is already undergoing an audit by German based ITFA to become one of the most highly rated fair organizers in Sub-Sahara Africa.

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