Tag Archive | "insurance"

Online motor insurance initiative cruising along, RTA official says

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Online motor insurance initiative cruising along, RTA official says


43 major firms in Dubai have established link with licensing agency

news14Dubai: The switch to mandatory online insurance for the registration of vehicles has received a good response from motorists and insurance companies, said a senior official.

“Majority of the insurance companies in Dubai have already rolled out an online vehicle insurance service to cope with the new online initiative,” Ahmad Hashem Behroozian, chief executive officer (CEO) of the Licensing Agency of the Dubai Roads and Transport Authority (RTA), told Gulf News.

Some 43 major motor insurance companies which cover more than 95 per cent of vehicle insurance in Dubai have already established an online link with the Licensing Agency ensuring availability of insurance data online.

The RTA stopped accepting physical insurance documents for vehicle registration from March 1 and now requires all insurance companies to send vehicle records online. Annual registration of vehicles is a massive exercise as the number of registered vehicles in Dubai has increased to 1,021,880 in 2009, compared to 996,997 in 2008.

Documents also needed

Behroozian, however, advised motorists to carry their insurance papers as well while going for registration because they may be required in case there is a technical hitch in receiving online insurance. “Initially, we faced some technical issues in receiving online insurance data from some insurance companies but it has been sorted out,” he said, adding that the RTA would be a little flexible and also accept paper insurance but only in case of technical problems relating to data transfer.

A list of the insurance companies linked with the RTA is available online on the RTA’s website and it is updated regularly. More than 43 leading companies have already linked their systems with the RTA and all the companies operating at car registration offices also provide online insurance.

Behroozian asked motorists to check with their respective insurance companies whether they are now linked online with the RTA and to make sure to provide online insurance to avoid inconvenience.

Currently, a motorist has to first go to the insurance company to get his car insured, which is a prerequisite to get the vehicle registered with the RTA. He then physically carries the insurance paper to the Licensing Agency or car registration offices to renew the registration.

With the implementation of the new online system, a motorist will just pay the insurance fee using the online service and the company will send the information online to the RTA car registration offices.

“The online service has made our lives easier. It took less time and energy to get the vehicle registered this time because I did not have to drive to the insurance company to pick up my papers as it was all done online,” said Khurram Malek, an engineer.

Reminders via sms

The RTA has urged motorists to get their vehicles registered on time to avoid inconvenience at a later stage and to ensure the safety of all road users.

Mohammad Abdul Kareem Nimat, director of the Vehicle Licensing Department at the RTA, said the agency had put in place a mechanism whereby the owner of each vehicle is sent an SMS as a reminder to renew registration of his or her vehicle. Messages are sent out two weeks before the registration expires and also one month after the date for registration has passed. He said the main aim of annual vehicle registration was to carry out technical inspection of vehicles to ensure their roadworthiness. “People driving vehicles with expired registration endanger their lives in addition to posing serious threats to other road users,” he added.

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Dubai Islamic Bank launches Al Islami Takaful Riayati

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Dubai Islamic Bank launches Al Islami Takaful Riayati



Comprehensive accidental disability and fatality insurance offers range of benefits

Low annual premium brings coverage within reach of everyone

Latest innovative product from Dubai Islamic Bank

Dubai Islamic Bank (DIB) announced today the launch of Al Islami Takaful Riayati, Read the full story

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Dubai Islamic Bank introduces Al Islami Infinite Credit Card

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Dubai Islamic Bank introduces Al Islami Infinite Credit Card



Invitation-only card for ultra high net worth clients

Diamond-encrusted card handcrafted with genuine gold calligraphy

Offers range of exclusive privileges, including international concierge services, event and lounge access, travel insurance, purchase protection and more

Dubai Islamic Bank (DIB) announced today the launch of the Al Islami Infinite Credit Card, Read the full story

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Aman management reported that company persevered credit crisis and witnessed impressive revenue growth

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Aman management reported that company persevered credit crisis and witnessed impressive revenue growth



Results announced during CEO and MD presentation to Aman’s strategic partners and insurance brokers

CEO and Managing Director of Dubai Islamic Insurance and Reinsurance Company (Aman) Hussein Al Meeza Read the full story

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DIB named top distributor of Takaful products by Germany’s FWU AG

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DIB named top distributor of Takaful products by Germany’s FWU AG



Bank recognised for exceptional performance of Al Islami Takaful Savings Programme

Sharia-compliant savings plan developed to meet needs of DIB customers by FWU AG and Dubai Islamic Insurance & Reinsurance Company (Aman)

Dr. Adnan Chilwan, Chief of Retail and Business Banking, Dubai Islamic Bank, receiving the “Top Distributor Bank for the UAE market” from Huan Woon Han, Head of Distribution Management, International Business, FWU AG, in the presence of DIB officials.

Dr. Adnan Chilwan, Chief of Retail and Business Banking, Dubai Islamic Bank, receiving the “Top Distributor Bank for the UAE market” from Huan Woon Han, Head of Distribution Management, International Business, FWU AG, in the presence of DIB officials.

As further confirmation of the bank’s high standing in the international financial services community, Dubai Islamic Bank (DIB) announced today that it has received the Read the full story

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Aman records 326 % profit increase in Q3 of 2009

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Aman records 326 % profit increase in Q3 of 2009



Focus on quality of ‘business on the books’ leads to higher profits throughout 2009

Mr. Hussein Al Meeza, Aman’s CEO and Managing Director

Mr. Hussein Al Meeza, Aman’s CEO and Managing Director

Dubai Islamic Insurance and Reinsurance Company (Aman) says it that in the first three quarters of 2009 the company made Dhs 26.34 million in profits; a rise of 326% compared with the same period in 2008.  Aman has also reported a Dhs 6.4 million profit within the last three months (Q3) specifically. Read the full story

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1140% Subscription Coverage in Buruj Cooperative Insurance Co. IPO

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1140% Subscription Coverage in Buruj Cooperative Insurance Co. IPO



After the close of the subscription period, the CEO of Al Rajhi Capital Co., Marcus Andrade, has announced the initial IPO subscription results for the Buruj Insurance.

Al Rajhi Capital is the Lead Manager for the IPO.

The IPO has resulted in SAR 595 million of subscriptions with the number of subscribers reaching 1,102,504 . The offer has been subscribed by 1140%. The IPO was launched on Saturday 3 October. Read the full story

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GGICO Announces Profit of Dhs 198 million for the First half of 2009

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GGICO Announces Profit of Dhs 198 million for the First half of 2009



Mohamed Al Sari, Managing Director of GGICO

Mohamed Al Sari, Managing Director of GGICO

Gulf General Investment Company PSC (GGICO) announced net profit of AED 198 million for the 1st half of 2009, with revenues of AED  3.1 billion. Read the full story

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AXA Cooperative Insurance Company Receives Commercial Registration in Saudi Arabia

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AXA Cooperative Insurance Company Receives Commercial Registration in Saudi Arabia


AXA Cooperative Insurance Company (“AXA Co-operative”), a Saudi Public Joint Stock Company, announced the 15th of July that the Ministry of Commerce has issued their Commercial Registration. Read the full story

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Aman Records 158% Increase in Q2 Profit

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Aman Records 158% Increase in Q2 Profit



 Mr. Hussein Al Meeza, CEO and Managing Director of Aman

Mr. Hussein Al Meeza, CEO and Managing Director of Aman

Dubai Islamic Insurance and Reinsurance Company (Aman) said it has made Dh19.9 million profit in the second quarter of the year, Read the full story

Posted in Aman, Corporate & Business, Finance and Economy, PR 2.0 MembersComments (0)

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