UAE – Car agencies keep old spare parts
Saturday, 03 12 2016, Category: Insurance and Reinsurance, Country: U.A.E
Car agencies are retaining old spare parts. However, insurance companies claim that they are the owners of these spare parts. This situation consumes part of the premium and leads to financial losses to insurers since the old spare parts can constitute a reasonable income to insurers.
Insurance officials told “Al Roeya” that old spare parts should be returned to insurers that own them since these insurers paid the prices of new spare parts and repair costs as well. They confirmed that car agencies are retaining old spare parts unjustifiably and with no reasonable reasons.
They indicated that car agencies also overstate the costs of repair and spare parts.
Source: Al Roeya - UAE