UAE – Applying maximum prices on driver categories
Monday, 07 17 2017, Category: Insurance and Reinsurance, Country: U.A.E
Insurance managers said that “insurers apply the maximum prices on four categories of drivers including: drivers aged below 25 years, drivers who have new driving licenses, drivers of sports cars, drivers who cause accidents frequently”.
They clarified to “Emarat Al Youm” that “insurance prices for these categories are usually higher by 50% compared to other categories of drivers”, indicating that “this pricing policy diminishes the chances of realizing losses for insurers”.
They clarified that “insurance companies are very prudent with these categories of drivers due to higher risks if insurance coverage is granted”.
Source: Emarat Al Youm