UAE – The replacement car issue causes the insurers’ apprehensions
Friday, 06 05 2015, Category: Insurance and Reinsurance, Country: U.A.E
Leaders of the motor insurance sector have apprehensions over the amendments applied in the draft motor policies especially about the replacement car that should be offered by the insured at fault to the person afflicted.
They confirmed that the alternative replacement car will lead to the increase of motor insurance costs given the additional compulsory services included in the new amendment.
His Excellency Mr. Ibrahim Zaabi the General Manager of the Insurance Authority has clarified that the new amendments will not be implemented until the opinions of policyholders and the public are gathered, so that the draft is amended to its final form confirming that the unified motor insurance law will be launched in the current year.
Source: Al Roeya - UAE