Bahrain: Unified comprehensive motor insurance contract to be issued mid-year
Source: Middle East Insurance Review | Jul 2018
The unified comprehensive motor insurance contract, now being finalised by the Central Bank of Bahrain and Bahrain Insurance Association (BIA), will be issued in the middle of the year.
Mr Jawad Mohammed, general manager of Solidarity-Bahrain and a board member of the BIA said the new insurance contract will unify the conditions, claims procedures, annual depreciation percentages for spare parts, deductibles and vehicle valuation. Consequently, it will be easier for the client to choose the best insurance without reading the conditions of the contract, reported Al Watan.
He said the standard document will exempt consumption of spare parts in the first three years for new vehicles.
A unified contract for motor third-party liability insurance was issued last year. M