UAE insurers share information on bad drivers
Monday, 06 15 2015, Category: Insurance and Reinsurance, Country: U.A.E
ABU DHABI - An increasing number of insurance companies have agreed to share driver accident history to help identify a potential client’s risk of filing a claim.
Of the 62 insurance companies in the UAE, 35 offer motor- vehicle insurance. So far, 26 share a database that ranks drivers so the companies can adjust premiums accordingly.
Accident histories can help companies to charge fairer premiums based on risk profile and prevent fraudulent claims. For instance, a driver with many accidents poses a greater risk, and is therefore more likely to pay a higher premium, than a careful driver.
Source: The National – UAE