Press release on the Event of “Know Your Rights In Insuring Your Vehicle“ organized by Insurance Authority in the Licensing Department of Abu Dhabi, Al Ain and the Western Region

: 2/27/2017

Insurance Authority organizes awareness-raising campaigns about vehicles insurance policies at Customer Service Centers in the Licensing Department of Abu Dhabi, Al Ain and Western Region


Abu Dhabi, in February 2017

Insurance Authority, in collaboration with the Traffic & Licensing Department at Abu Dhabi Police, organizes awareness-raising campaign under the slogan “Know Your Rights In Insuring Your Vehicle“   at Customer Service Centers in the Licensing Department of Abu Dhabi, Al Ain and Western Region awareness campaign, aiming to educate policyholders and the public about the Regulation of the Unified Motor Vehicle Insurance Policies.

 The campaign aims to raise awareness among policyholders, customers and the public of their rights and obligations in the insurance policies; particularly the Regulation of the Unified Motor Vehicle Insurance Policies  and new benefits contained in the new Regulation; promote insurance culture; and provide them with information about the Insurance Authority’s activities and services.

HE Ibrahim Obaid Zaabi, Director General of the Insurance Authority said that: “The awareness-raising campaign constitutes a part of Insurance Authority’s vision and mission as to promoting competitiveness of domestic insurance market and upgrading same to international levels and ensuring the provision of insurance protection to policyholders and beneficiaries by providing them with information about their insurance rights and obligations and educating the public about the concept of insurance and its various principles and characteristics.

“This campaign is a part of the awareness-raising campaigns organized by the Insurance Authority in the context of raising awareness about Regulation of the Unified Motor Vehicle Insurance Policies issued by the Insurance Authority in 2017 and the new benefits contained in such Regulation, inuring to the benefit of policyholders and the local insurance market.” Zaabi added

 He referred to awareness-raising campaigns, which included organizing awareness workshops in the different emirates and regions of the UAE and launching a variety of suitable and multi-media awareness programs in which appropriate means of media outlets have been used.

For his part, Brigadier Mohammad Maaiov Ketbi, Deputy Director of ADP Central Operations Department praised the importance of the campaign, which aims to educate policyholders, customers and the public at the customer service centers in Abu Dhabi, Al Ain and Western Region with their rights and obligations in insurance policies and inform them about the Regulation of the Unified Motor Vehicle Insurance Policies and new benefits contained therein as well as the types of services offered by insurance companies to their customers and applications for the insurance and the prices for the various types of insurance services and claims procedures.

Ketbi asserted the importance of cooperation and coordination between Abu Dhabi Police and Insurance Authority based on its permanent keenness to raise the level of insurance awareness, promote the culture of traffic safety among community groups and raise awareness about the importance of the insurance umbrella of the vehicles due to the direct impacts thereof on the growth of economies, because of the resulting loss of life and property. He pointed out that vehicle insurance is an important means for relieving road accidents, thus reducing losses.

Ketbi asked the customers at customer service centers in Abu Dhabi, Al Ain and the Western Region to benefit from the educational campaign to know their rights of insurance and access to the types of services offered by insurance companies to their customers and applications for the insurance and the prices of the various types of insurance services so as to contribute to the establishment of a modern and sophisticated regulatory foundations for the insurance market of UAE in accordance with the best international practices.

in late September 2016, Insurance Authority’s Board of Directors has adopted the Regulation of the Unified Motor Vehicle Insurance Policies for civil liability, loss, damage, which is an important and specific shift in the development of the organizational foundations and technical regulations for the development of the UAE insurance market, vehicle insurance sector and the protection of the rights of policyholders due to the terms and conditions that are included in the insurance policies, suit the competitive level of the UAE economy and keep pace with the best practices prevailing in the insurance industry worldwide.

The Regulation contains many provisions that shall be considered by the company and that used to raise a number of problems in the application, so that the Regulation is as a binding legal provision, to the extent that the provisions of two insurance policies included therein shall not be prejudiced, with the possibility of making an agreement insuring to the benefit of the insured.
 
The Regulation aims to protect the rights of policyholders and shareholders of the insurance companies as well, and to protect the companies themselves from the risks to which they may be exposed in the future, thus contributing to the development of technical bases and rules required for promoting the establishment of modern and sophisticated regulatory foundations for the UAE insurance market in accordance with the best international practices.

The vehicle civil liability insurance policy contains many new benefits, e.g. the increase of the amount of insurance for physical damage incurred by third parties from AED 250,000 to AED 2,000,000, and the damaged vehicle shall be repaired inside the agency’s workshops, in relation to the vehicle which has been operated for one year maximum.

Such insurance policy also covers the insured’s family members, i.e. husband, wife, children and parents, up to AED 200,000.

The victim, i.e. owner of the private vehicle also has the right to, during the reparation period, obtain a replacement vehicle that shall be similar to the damaged vehicle or obtain a daily fare of no more than AED 300 up to 10 days. As regards the commercial vehicles, their owners are not covered in order to avoid the high cost of insurance.

Vehicle loss and damage insurance policy also contains many new benefits, e.g. a mechanism in the event of a disagreement between the insured and the insurance company about the value of the damage and the amount of compensation or the market value of the vehicle. To that end, a loss adjuster will be hired to estimate the damage.

Additional deductibles related to the age of the driver, taxi vehicles, public taxis, rental vehicles, sports vehicles and equipped vehicles also become clearly and specifically included in the insurance policy. In the case of multiple deductibles ratios, the highest one will be considered per occurrence.

Insurance duration that is subject to depreciation allowance is 13 months, so that the ratio will be 20% for the entire duration of insurance. There is no division for every quarter due to the problems raised because of the thirteenth month.
 
The insurance policy also includes a table of short durations, if the insurance policy is to be terminated. Same was not included in the current insurance policy.
 
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