Bahrain: Unified motor insurance policy to be launched in June
Source: Middle East Insurance Review | Mar 2019
A unified policy for comprehensive vehicle insurance will be launched in June, Mr Yahya Nooruddin, chairman of the Bahrain Insurance Association, has revealed.
He said the document is in the final preparatory stages and will be launched after the Central Bank of Bahrain gives its approval, according to an article in Argaam.
The unified policy includes clauses that clarify the rights and obligations of motor insurance customers, and set out how to deal with claims and allow for the comparison of offerings by insurers to help a customer choose the company which suits his needs. The new document also means that customers will not have to worry about disparities in the insurance policies of different insurers, as is the situation currently. The new document will contribute to reducing the level of complaints.
With regard to the possibility of standardising the prices of comprehensive motor insurance, Mr Nooruddin affirmed that such pricing would not be consolidated except for motor third party liability insurance, which is mandatory by law. M