UAE – 70% share of claims in motor premiums
Saturday, 08 04 2018, Category: Insurance and Reinsurance, Country: U.A.E
The claims related to motor accidents reached AED 5 billion according to the statistics of the Insurance Authority, which clarified that motor claims represent 70% of total collected premiums. This amount increased by AED 2 billion last year due to the increase in repair and spare parts as well as labor costs.
Moreover, the insurance sector expert Tariq Abdullah clarified that the unified motor insurance contract defined the benefits and rights of customers against the price charged. This situation helped improve the quality of service.
Source: Al Roeya - UAE