Bahrain – Uniform motor insurance policy by mid-year
Tuesday, 02 09 2016, Category: Islamic Insurance, Country: Bahrain
An executive director told the “Economic – Alayam” that the Central Bank of Bahrain intends to issue the uniform comprehensive and third party motor insurance policy will be compulsory by mid-year 2016. The source which chose anonymity said that the “policy will be issued soon after the tripartite consultations between the central bank, insurance companies, and the consumer protection of the ministry of industry and commerce.
The issuance of the uniform policy is related to the increasing number of complaints against local insurance companies filed by policyholders. Another reason is the differences between insurers in the amount of deductibles and policy conditions.