‘Is My Insurance Policy Any Good?’ – Reviewing Your Insurance in the Age of Coronavirus.
Many residents in the UAE are reviewing their insurance policies as a result of the Coronavirus pandemic. Many of the enquires for insurance policies of all different types are currently on the increase in the UAE. Perhaps one of the few positive things to come out of the Coronavirus Pandemic is that it is forcing residents to review their financial priorities. But, the insurance marketplace is complicated and can seem impossible to navigate to some people. So, where should you start? Well, our friends at Gulf News have a helpful guide for getting started.
Coronavirus Causing Delays to Insurance Payments in the UAE.
Many UAE residents and businesses are delaying their insurance payments as a result of economic turbulence caused by Coronavirus. Much of this results from the loss of business and salary reductions that have happened during the pandemic. According to Zurich, with market developments such as these, it’s expected that the impact of the Coronavirus pandemic will be realised in Q2 of 2020.
Could Coronavirus Be Beneficial For Insurers in the UAE?
As a result of COVID-19, many UAE residents are thinking about their life insurance and critical illness policies. There’s no surprise here. After all, the cost of living is expensive in the UAE and financial security has become a concern for many residents during the uncertain time of the pandemic. So, could Coronavirus actually be beneficial for insurers in the UAE?
If you’re concerned about whether you have enough cover or want to discuss what policy is right for you, contact IAE Insure today at firstname.lastname@example.org or call +971 4 396 1878 for a FREE no obligation quote. Visit us at www.iaeinsure.ae.