Vehicle third party insurance premiums increased in Kuwait. With this, the insurance premium amount for cars, two-wheelers and other commercial vehicles will increase from April 16. Currently, the premium was 19 dinars. This will increase to 32 dinars. In addition to this, a service charge of two dinars and a premium of one dinar per passenger in the vehicle must be paid, local newspaper Kuwait Times reported.
The proposal has been approved by the Insurance Regulatory Unit. An online system has been introduced for payment of insurance fees. The committee also suggested that compensation should be paid to consumers within a maximum of 10 working days from the date of completion of the insurance claim. Insurance rates for vehicles entering Kuwait through land borders have also been increased.