Jordanian insurers suffer huge losses in motor third party liability (CMTPL)

For many years now, the Jordanian insurance market has recorded considerable losses in the compulsory motor third party liability (CMTPL) activity. In 2018 the motor loss ratio reached 109% in aggravation compared to 2017 where it recorded 96%.

According to Majed Smairat, chairman of the Jordan Insurance Federation (JIF), the activity suffers huge losses due to increases in costs of spare parts and repairs, medical treatment costs and fraud losses.

The chairman also claims that motor third MTP tariff liberalization is the only remedy for this issue which undermines the market.

Lire aussi | the Jordanian insurance market