UAE – Property insurance policies grow by 20%
Monday, 08 08 2016, Category: Insurance and Reinsurance, Country: U.A.E
The appetite for property insurance increased by approximately 20% since the beginning of the current year as property owners and renters are increasingly concerned about the multiplication of fires, which affected residential towers lately.
Insurance experts consider this trend as healthy and rational indicated that this class of insurance is inexpensive since its cost does not exceed 0.4 to 1 per mille of sum insured. Therefore, the insurance contract for a normal apartment will range between AED 200 and AED 300.
They clarified that some insurance companies evaluated the market situation and identified the potential of these products, so they directed their teams to market such coverage.
Source: Al Roeya - UAE