UAE – Decreasing depreciation of spare parts
Wednesday, 04 11 2018, Category: Insurance and Reinsurance, Country: U.A.E
Customers requested insurance companies to decrease the “depreciation percentage” on spare parts that has to borne by the insured when an accident takes place. Customers also noted that insurers force them to use “used spare parts” although they are not responsible about the accident.
Moreover, directors working in the insurance sector said that in all cases companies have to use original spare parts even though they are used because the parts damaged at an accident are not new. Therefore, if the insured wants to use a new part, he has to face the depreciation percentage.
Source: Emarat Al Youm