UAE – Motor insurance prices increased by 40%
Tuesday, 08 02 2016, Category: Insurance and Reinsurance, Country: U.A.E
Manager and employees of insurance brokerage companies said that motor insurance prices increased by 10% to 40% during the first half of the current year compared to the same period last year, indicating that 90% of the companies operating in the local market had to amend their prices.
They mentioned to “Emarat Alyoum” that the market currently witnessed price corrections in light of the pricing policies built on actuarial bases (calculating prices accurately by experts). They expected continued price increase given the pressures of losses, expensive repair and spare part costs in addition to ambulance fees and other factors.
Source: Emarat Alyoum