United Arab Emirates, motor insurance claims on the rise
According to the 2017 Insurance report, issued by the Emirates supervisory authority “Insurance Authority”, motor claims reached 5.5 billion AED (1.5 billion USD), up by more than 1 billion AED ( 272 million USD) compared to 2016. This rise is due to the increase in repair costs, the cost of spare parts and that of labor.
In 2017, motor claims represented 73% of the premiums collected in the class of business which amounted to 7.5 billion AED (2 billion USD).
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