UAE – Increased prices facing higher motor accidents
Monday, 07 03 2017, Category: Insurance and Reinsurance, Country: U.A.E
Managers of insurance brokerage companies said that “local insurance companies are charging higher motor insurance prices at renewals for drivers who posted a larger number of traffic accidents. Therefore, prices are increased in order to cope with losses. Otherwise, the renewal is cancelled”.
They mentioned to “Emarat Al Youm” that “a large number of companies is examining the driving record of drivers as well as the past claims during the sale and renewal of insurance contracts” indicating that “drivers who cause accidents will face an increased control when their contracts are being priced”.
Source: Emarat Al Youm