Bahrain – Regulator will issue decisions on motor insurance
Thursday, 12 03 2015, Category: Insurance and Reinsurance, Country: Bahrain
Mr. Abdul Rahman Al Baker Executive Director of Financial Institutions Supervision at the Central Bank of Bahrain said that the central bank is about to issue new decisions related to “motor insurance” since it is the authority responsible about insurance sector regulation in the country.
He mentioned that these decisions will include additional conditions and regulations without detailing the nature of these conditions.
In the same context Al Baker confirmed during his recent intervention in the parliament that all motor insurance prices in the “Third Party” class did not change since year 1995, i.e. since 20 years, noting that the central bank has been regulating the “insurance sector” since 11 years.
Source: Al Ayam