UAE – AED 25 fees on motor ins. Contracts
Monday, 08 27 2018, Category: Insurance and Reinsurance, Country: U.A.E
Managers working in brokerage companies said that insurance companies operating in the local market applied fees on motor insurance contracts ranging between AED 20 and AED 25.
Moreover, they mentioned to “Emarat Al Youm” that companies consider these fees to be part of the expenses to complete the insurance transactions and fall within the operating expenses, so the mentioned fees are included in the price of the contract.
Furthermore, they showed motor insurance prices witnessed decreases during the last period compared to the levels witnessed in the beginning of 2017 with the implementation of the new contract.
Source: Emarat Al Youm