Jordan – Fines decrease motor insurance losses
Thursday, 08 03 2017, Category: Insurance and Reinsurance, Country: Jordan
Dr. Ali Wazani president of the Jordan Insurance Federation said that increasing the fines on the persons who cause motor accidents will help decrease such accidents and will thus limit the losses of insurers.
Dr. Wazani told “Al Ghad” that intentional accidents are one of the biggest problems of insurance companies. Therefore, the fines will decrease the losses of compulsory motor insurance.
The Jordanian parliament voted on the amendment of article No 425 of the penalty law by added two penalties including prison sentences of at least 3 months and monetary amounts of a minimum of JOD 50 and a maximum of JOD 200.
Source: Al Ghad