The Insurance Authority, (IA) has succeeded in solving and settling 97.2 percent of the 443 complaints received from policyholders and the policy beneficiaries made against national and foreign companies operating in the UAE during the first half of 2013 relating to different insurance issues.

Vehicle insurance complaints occupied the bulk of the complaints at around 97 percent, while the rest related to life assurance, property and health insurances, according to the IA.

Ebrahim Obaid Al Za'abi, acting director general of IA, pledged the IA's keenness and interest to competitively serve UAE nationals and policyholders, settling complaints of the local market by suitable legal means and amicable methods aimed to improve the performance of the UAE's insurance sector, enhancing its competitiveness and improving the overall outlook of the UAE's insurance industry and thus strengthening its regional and national creditability.

He said: "The Insurance Authority has succeeded in solving 97.2 percent of the received complaints, while the few remaining ones are still under consideration by the companies, the policyholders and the authority. The rate of settled complaints during the first half of the current year is deemed the highest of those recorded in the previous years.”

He said: “The authority managed to propose solutions and settlements of the received complaints within a period not exceeding five working days from date of receipt, which is consistent with the standards set to settle and solve complaints at the level of excellence and competitiveness."

Al Za'abi added that the IA is working to overcome some of the negative aspects in the local insurance market through legal and legislative regulation and the regulatory and supervisory role, which complement each other to build a progressive and competitive insurance market on regional and international levels.