Media ININ Economy We Trust
The Emirates Insurance Association, as an institution responsible for promoting and supporting the insurance companies sector in the UAE, confirmed that it is working closely with the UAE Central Bank to enhance the sector’s sustainability, improve its performance and continue to achieve profitability in its various operations.
In this context, insurance companies, with the support of the Emirates Insurance Association, are working hard to keep pace with their services and operations in line with the agenda of the Central Bank, by applying correct insurance practices, reviewing price differences, and pricing documents under the umbrella of the Central Bank, in order to achieve its obligations towards the bank’s monitoring of financial solvency. For insurance companies, ensuring their adherence to professional ethics standards and protecting the rights of the insured
The association clarified that what is being circulated in the past period regarding some companies raising the prices of their insurance policies is not confirmed information, as it is currently being investigated and verified, at a time when it confirms its support and observance of consumers’ rights as a priority.
The association indicated that the insurance sector seeks to implement national plans and strategies in line with the vision of the Central Bank, which aims to transform the Central Bank into one of the top 10 central banks in the world in order to achieve financial stability for the country, which enhances its goals towards achieving development and strengthening cooperation between companies. and member insurance agents, and study the needs of the insurance market in the United Arab Emirates.
