Qatar – “Central Bank” regulates motor insurance
Tuesday, 04 18 2017, Category: Insurance and Reinsurance, Country: Qatar
The Qatar Central Bank banned the issuance of motor insurance policies by car dealers, car repair garages, dealers of spare parts and car accessories, legal services companies and financial companies.
The Central Bank issued a memo of which “Lusail news” received a copy about the new regulations governing motor insurance. It says that motor insurance issuance should be only made by the insurance company or the insurance broker, which are licensed by the Qatar Central Bank. It also banned the insurance of a series of vehicles by a single contract for licensing considerations as every vehicle should be insured by a separate policy with the exception of the vehicles of the ministry of defense, ministry of interior and ambulance vehicles that follow the ministry of health.
Source: Lusail News