Bahrain: Takaful International and Copart ink agreement on sale of damaged cars
Source: Middle East Insurance Review | Sep 2015
Takaful International and specialty salvage seller Copart Bahrain have signed an agreement to regulate the sale of damaged cars from traffic accidents through auctions.
The agreement was signed by Mr Younis Jamal Al-Sayed, Takaful International CEO, and Mr Carlos Sabugueiro, Copart’s CEO for Middle East and Africa.
The agreement aims to ensure full regulation of the sale of damaged vehicles after reimbursing the insured client.
There will be a mechanism to provide fair and transparent sales reviews of the applicants’ bids in the auction process and guarantee professional independence in implementing the sales operation.