Kuwait – Refusal of immediate claims settlement
Tuesday, 02 06 2018, Category: Insurance and Reinsurance, Country: Kuwait
Insurance companies are complaining a month before the implementation of article 41 of the traffic law that allows immediate settlement of simple traffic accident claims starting with the next month of March in the governorate of the capital and then it will be extended to other governorates after reviewing this experience and by averting its disadvantages.
Insurance companies according to a number of managers told “Al Rai” that this new decision will be a catastrophe and will serve the interest of brokers who take fees that are against the decision of the ministry of economy and trade, which set it to 10% of the Third Party insurance contract.
Source: Al Rai Media