Cambodia firefighting #fail: why insurance matters (video)

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If you’re interested in learning a thing or two about emergency services in Cambodia, or why Cambodia saw the fastest rate of growth in insurance premiums in Asean last year, make sure to watch these two Cambodia firefighting videos to understand why insurance matters in Cambodia.

Cambodia firefighting: Water doesn’t even make it to this burning car on the side of a Cambodia motorway.
Video Ly Hour Sou Ser

Firefighting is serious stuff, right? Right!. However, it’s a little difficult to take these guys seriously when spectators on the scene are cracking up laughing and people are groping the fire hose like an unruly dead python.

In the Cambodia firefighting videos uploaded to Facebook on Sunday, we witness the best that provincial Cambodia firefighting has to offer: bravery, selflessness, shouting, onlookers making lots of videos, and fire! And yeah, water, if you’re into that kind of thing. But be warned, there are worryingly small amounts of water being used to combat these incredible blazes!

In the clip with the burning vehicle (right), water doesn’t even make a cameo. It’s just men yelling and pointing at the fire truck like it is the thing on fire.

Gross written insurance premium receipts in Cambodia increased by 37.7 per cent last year, the fastest rate of growth in premiums in Asean
Gross written insurance premium receipts in Cambodia increased by 37.7 per cent last year, the fastest rate of growth in premiums in Asean Asean Insurance Council’s (AIC)

In the case of the burning market stall (above), the amount of time that the fire is actually being “fought” amounts to about four seconds.

While those are a very effective four seconds, it is the Three Stooges-like performance leading up to those four seconds that is the problem, especially with the rapid rise in the number of high-rise construction projects throughout the country.

Cambodia insurance sector

After watching these two Cambodia firefighting videos one should not be surprised to learn that the small, but dynamic Cambodia insurance sector saw penetration grow by 27.8 per cent last year – from 0.36 to 0.46 per cent – when measured against Cambodia GDP.

However, while Cambodia insurance sector growth far exceeded the average compounded annual growth rate for Asean between 2012 and 2015 of 5.8 per cent, its penetration lags woefully behind the Asean Community average of 3.8 per cent

According to the Asean Insurance Council’s (AIC) 2016 Asean Insurance Statistics Report, gross written insurance premium receipts in Cambodia topped $84 million last year compared to $61 million the year prior, an increase of 37.7 per cent; the fastest rate of growth in insurance premiums in Asean.

Total insurance premiums in the Asean Community as a whole grew by 2.9 per cent last year.

 

 

Feature video Ly Hour Sou Ser

 

 

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