UAE – Maximum deductibles of motor contracts
Tuesday, 07 18 2017, Category: Insurance and Reinsurance, Country: U.A.E
The Insurance Authority confirmed that any insurance company operating in the country cannot exceed the maximum deductible allowed in the unified motor insurance contract including the third party liability contract and the comprehensive contract. Moreover, the Authority said that companies have to comply with the maximum deductible allowed in both contracts and it is considered as an intrinsic part of the contract. Therefore, exceeding the deductible will not be recognized during a litigation. The Authority called upon policyholders and beneficiaries to read the insurance contract, understand coverage, and check that deductibles follow the legal rules by not exceeding the maximum.
Source: Al Ittihad