The new insurance law has made it easier for insurers to issue
policies in a foreign language, thus expanding their business
opportunities, but there are downsides when it comes to insurance
disputes, says
Francois Chemaly, Head of Corporate at BSA Abu Dhabi.
Insurance is an important sector that contributes to the
stimulation of the United Arab Emirates' economy. The Emirati
Legislator continuously endeavors to develop the insurance
framework and to enhance transparency, especially since insurance
companies are publicly listed entities, and accordingly subject not
only to the supervision of the Insurance Authority (IA) but also to
another government agency, namely the Securities and Commodities
Authority.
