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Palestine: Insurance payouts grew by almost 12% to $173m in 2018

Source: Middle East Insurance Review | Apr 2019

Insurers in Palestine saw total compensation payouts increase by 11.6% to $173m in 2018 from $155m in 2017, according to Mr Anwar Al-Shanti, chairman of Palestinian Insurance Federation (PIF).
 
In an interview with the newspaper Al-Hayat al-Jadida, Mr Al-Shanti attributed the increase in claims to a higher number of accidents last year.
 
The number of vehicles insured last year reached 345,066 vehicles. The number of road accidents during the year was 12,829, resulting in 125 deaths.
 
He added that reasons for the increase in the number of accidents included the traffic infrastructure – such as the quality of roads, lights, traffic signals and road signs – traffic congestion; lack of training and experience of drivers; and negligence.
 
There were at least one fake motor incident detected every day, with at least 365 false incidents for the year because the related penalties are not a sufficient deterrent, according to Mr Al-Shanti. M 
 
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