Move to increase auto insurance from KD 20 to KD 100
Kuwaiti insurance companies are moving towards obtaining official approvals to raise the value of auto insurance from KD 20 to KD 100, reports local Arabic news paper. The move is for an increase rate of 400 percent and five times more than the current value of insurance.
The companies clarified that insurance fees have remained unchanged for the past 55 years since the issuance of law No. 24/1961 on companies and insurance agents.