UAE – Committee to settle insurance disputes
Monday, 10 02 2017, Category: Insurance and Reinsurance, Country: U.A.E
The Insurance Authority is launching the first committee to settle disputes and conflicts between insurance companies and policyholders. This follows the amendments to the Federal law No (6) of year 2007 that established the Insurance Authority and insurance regulations.
The committee will have 3 to 5 members including insurance experts and judges. The parties will have to accept the decisions of the committee beforehand and these decisions could be challenged at the courts within a timeframe confirming that lawsuits will not be accepted unless they were submitted to the special committee.
Source: Al Ittihad