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UAE: A 50 000 AED fine for insurers who don't answer the complaints of the insured

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Magazine Issue: 
2019, the year of all challenges [3]
Magazine date: 
Feb 2019

DubaiThe UAE Insurance Authority has introduced a new regulation in order to protect policyholders and beneficiaries.

The new text decided by the Council of Ministers and implemented by the Insurance Authority provides for a fine of 50 000 AED (13 610 USD) for insurance companies that do not treat or answer the complaints of policyholders.

This penalty is of 25 000 AED (6 805 USD) for all companies that respond to complainants beyond the deadline set by the Authority.

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Fri, 01/03/2019 - 16:25

Source URL: https://www.atlas-mag.net/en/article/uae-a-50-000-aed-fine-for-insurers-who-do-anwswer-the-complaints-of-the-insured

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