Qatar – News standards for motor insurance
Monday, 07 25 2016, Category: Insurance and Reinsurance, Country: Qatar
The Qatar Central Bank issued at the end of last week the final instructions for insurance, reinsurance, Takaful and ReTakaful companies operating in the market regarding the unified insurance principles for motor vehicles and the rules governing claim settlement for the material damage of vehicles caused by traffic accidents.
An informed source told “Lusail” that the new instructions will delve into the history of the driver or car owner in case of accident in order to assess risks. As a result the premium will rise in parallel with the risk adding that the new instructions will contribute to improving customer protection and will seek to minimized additional cost that the damaged car will bear.
Source: Lusail News