Palestine: Govt and insurance body to work closely on motor
Source: Middle East Insurance Review | Jul 2015
The Ministry of Transport and Communications and the Palestinian Insurance Federation (PIF) have reportedly agreed to have their technical teams meet to discuss setting up a system linking vehicle licensing to the purchase of motor insurance.
The agreement was reached at a meeting on 8 June between the Minister of Transport and Communications, Dr Allam Mousa, and PIF Chairman, Mr Ayoub Wael Zurub, reported Alwatan Voice.
Their meeting focused on a range of issues related to transportation and insurance. Among the issues discussed was the linking of insurance purchase for all vehicles, including motorcycles and tractors, with licensing and for the exchange of data. Also addressed were problems that may impede the proper functioning and development of insurance, and dealing with accidents.
It was also agreed that bilateral meetings will be held to exchange views and make the necessary proposals to advance cooperation between the public and private sectors.
Vehicle insurance premiums in the Palestinian market reached US$100.5 million last year, 8% higher than in 2013. The motor business accounted for nearly 60% of the total premiums of the industry, according to data on the PIF website.