The Iraq Insurance Diwan (IID), the insurance industry regulator, is working on improving the motor insurance system.
Ms Israa Saleh Dawood, IID president, chaired a meeting in late August with representatives of the Association of Insurers and Reinsurers and the state-owned Iraqi Insurance Company, to discuss the mandatory vehicle insurance system, Ms Israa Saleh Dawood, IID president, chaired a meeting in late August with representatives of the Association of Insurers and Reinsurers and the state-owned Iraqi Insurance Company, to discuss the mandatory vehicle insurance system, according to a media statement issued by the insurance regulator.
The session focussed on examining the proposed mechanisms for providing insurance coverage for damages that may be incurred by persons and property as a result of traffic accidents, provided that they do not conflict with the Compulsory Motor Vehicle Accident Insurance Law (1980).
Meeting participants emphasised the importance of formulating an integrated system that guarantees the rights of those affected and enhances citizens’ confidence in the insurance sector, while taking into account the legal and technical standards in force in this branch.