UAE – Motor insurance pricing review every 3 months
Tuesday, 05 23 2017, Category: Insurance and Reinsurance, Country: U.A.E
The Insurance Authority is currently reviewing the minimum and maximum pricing of motor insurance in order to take the appropriate actions that will help the insureds take advantage of the new contracts introduced in the beginning of the current year according to H.E. Ibrahim Obaid Al Zaabi, Director General of the Insurance Authority.
Moreover, Mr. Al Zaabi revealed in a press release at the margins of the announcement of the strategic plan of the Insurance Authority for year 2021 in Abu Dhabi yesterday, that the motor insurance prices will be reviewed regulatory every quarter noting that the first quarterly review in the first 3 months of the current year showed large differences in the prices of insurance. He clarified that the review of contracts and prices will continue until the end of the current year before new actions are taken.
Source: Al Ittihad