UAE – What happens between insurers an car agencies?
Friday, 06 19 2015, Category: Insurance and Reinsurance, Country: U.A.E
There is tension and decisions of boycott between insurance companies and car agencies after these car agencies were accused of increasing the prices of spare parts and repairs. However, the car agencies said that most prices are still within their natural levels and that price increases have affected only a limited category of spare parts. Insurance companies are stressing that the strong position of the Dirham against most of the foreign currencies was not translated practically by lower spare part prices so they requested to decrease the prices of all spare parts by 10% to 15%.
The agencies confirmed that prices did not witness any increase except for some very few spare parts of which the prices have been raised by no more than 8%.
Source: Al Khaleej - UAE