Bahrain – Implementing a unified comprehensive motor policy
Monday, 08 08 2016, Category: Insurance and Reinsurance, Country: Bahrain
Informed sources said that the Central Bank of Bahrain addressed Bahraini insurance companies two weeks ago in order for them to adopt a unified comprehensive motor insurance policy that can standardize procedures in motor insurance.
The same sources said that this step was expected and aims at clarifying the claims process for comprehensive motor insurance policyholders without discrimination.
The insurance policy treats a number of issues such as original and commercial spare parts, repair costs, depreciation calculation methodology, which differs from one insurer to another in addition to other coverages included in the policy.
Source: Al Wasat News