The estimated losses caused by the blaze on March 26, 2008

According to Youssef Jabbour, Chairman of Emirates' Insurers Association, the losses caused by the violent blaze that ravaged the industrial area Al Quoz on March 26, 2008 are estimated at 600 million AED (163 million USD). The loss reports, already submitted to the insurance companies, amount to 150 million AED (40 million USD), but the loss toll may be even higher. The recurrence of losses has triggered concern among insurance companies which started considering the prospect of raising fire premiums, while authorities have announced stiffer security and preventive measures.