Sultan bin Saeed Al Mansoori, Minister of Economy and Chairman of the Federal Insurance Authority has clarified the compensation rules of insurance firms in the country. He has made it clear that owners whose vehicles has been damaged in the floods will be get compensation from insurance companies.
Al Mansoori announced this as a reply to a question that had been raised by Hamad Ahmed Al Rahoomi, the first deputy speaker in the Federal National Council .
The insurance companies are obliged to cover any damage suffered by vehicles as a result of natural disasters, such as thunderbolts and floods. This is part of the unified policy that insures the vehicle against risks of loss and mass damage.
The minister appealed to all parties, including the car owners and insurance firms, to carefully read the terms of the standard insurance policy and make sure they understand its details.