Insurance in focus after Mingalar Market fire in Myanmar

The recent fire at Mingalar Market in Myanmar has put focus on the need for insurance, Myanmar Times reports.

The fire destroyed 1,630 shops and damaged stocks of hundreds of others.

The fire is estimated to have cost over 36 billion Burmese kyats ($28 million).

Less than 1% of the shops at the market were insured, said insurers.

"Very few SMEs carry insurance," said an official at the country's IKBZ Insurance Co. Ltd.

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