Regulatory Alerts2017-01-01
Unified Motor Vehicle Insurance Policy Against Loss and Damage
The UAE Insurance Authority issued this consolidated policy to standardize coverage for motor vehicle loss and damage under Decision No. 25 of 2016. The document defines the contractual obligations of insurers to compensate for physical damage and specifies insured duties regarding premium payment, accident notification, and vehicle maintenance. It further establishes comprehensive exclusions for illegal acts, unlicensed driving, and natural disasters, while detailing recourse mechanisms for misrepresentation and specific deductible structures for various vehicle types.
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