UAE – Raising limit of single accident to AED 2 million
Tuesday, 09 27 2016, Category: Insurance and Reinsurance, Country: U.A.E
The Insurance Authority increased the maximum limit of insurance claims emanating from a single accident and that cause damage to third party properties from AED 250 thousand currently to AED 2 million according to officials working in the insurance sector in the country.
The informed sources told “Alittihad” that raising the maximum limit of claims caused by a single accident came by mutual agreement between the Insurance Authority and companies operating in the insurance sector in the local market. This is part of the reform of the unified motor insurance contract of which the details will be announced soon.