Bahrain – Study to reconsider motor insurance prices
Wednesday, 04 13 2016, Category: Insurance and Reinsurance, Country: Bahrain
The member of the board of directors of the Bahrain Insurance Association Mr. Sameer E. Al-Wazzan said that the association, which represents insurance companies operating in Bahrain, submitted a study to the Central Bank of Bahrain that is related to the “Third Party” motor insurance tariff.
Al-Wazzan added that the association achieved a study on Third Party motor insurance prices and appointed an actuarial consulting company. And the association sent the study to the Central Bank of Bahrain which regulated the insurance sector in the country in order to obtain its feedback.
Al-Wazzan indicated that the Third Party motor insurance tariff did not witness any change for about 20 years. He clarified that “the tariff should be reviewed given the data available”.
Source: Al Wasat