UAE – Guarantee fund to protect policyholders
Friday, 04 07 2017, Category: Insurance and Reinsurance, Country: U.A.E
H.E. Ibrahim Obaid Al Zaabi, Director General of the Insurance Authority in the United Arab Emirates said that the Authority is considering the establishment of a guarantee fund in order to protect the rights of insurance policyholders in case some insurance companies go bankrupt.
Moreover, he clarified that the current law of the Authority does not allow the issuance of such a law but the new draft law will enable such initiatives.