Chairman of the Board of the Insurance Authority;

Having perused:

- The Federal Law No. (6) of 2007, concerning the Establishment of the Insurance Authority and the Organization of Insurance Operations , its amendments and its Executive Regulation ;
- The Federal Law No (21) of 1995 concerning the Federal Traffic Law ,its amendments and its executive regulations,
- Insurance Authority Board of directors' Resolution No. (3) of 2010 on Instructions Concerning the Code of Conduct and Ethics to be Observed by Insurance Companies Operating in the UA ;
- Insurance Authority Board of Directors Resolution No. (11) of 2016 Concerning the Revision of the Pricing Policy Applied by a Company in the Classes of Property and Liability Insurance;
- Insurance Authority Board of Directors' Decision No. (25) of 2016 Pertinent to Regulation of the Unified Motor Vehicle Insurance Policies
- The Insurance Authority Board of Directors' Resolution No.(30) of 2016 to issue the regulations of "Tariffs" of vehicle Insurance;
- And, based on the approval of the Board of Directors of the Insurance Authority and the proposal of the Director General of the Authority,

Has decided:

Article 1

Firstly: Amending the tariff (minimum premium) of the Motorcycle insurance in Table (2) to be as follows:

1. - Up to 200 CC, the "tariff' will be 800 UAE dirhams.
2. - More than 200 CC, the "tariff'' will be 850 UAE dirhams.

Secondly: Payment of the insurance premium for (the passenger) in Table (2) shall apply only to individuals who work for the insured.

Article 2

Article (2) of the Regulations shall be amended as follows:

Firstly: The paragraph (2) shall be deleted and replaced by the following text:

"Insurance companies are free to compete by offering tariffs within the limits set forth in tables (1) and (2) attached to the Regulations herein. If the company decides to compete in offering tariffs, each company shall be fully and directly liable for the soundness of its decision from the technical and actuarial aspects pursuant to the Insurance Authority Board of Directors Resolution No. (11) of 2016 Concerning the Revision of the Pricing Policy Applied by a Company in the Classes of Property and Liability Insurance and the underwriting policy of the actuary in a way that reflects its previous experience with its customers and does not endanger its financial position or lead to the loss of the insured rights."

Secondly: The following paragraphs (3), (4), (5), (6), (7), (8), (9) and (10) shall be added respectively, as follows:

(3) The Company may grant a reduction to the insurance applicant (Individual) with claim-free record according to the following percentages:

1. a) 10% of the minimum premium to the owner of the vehicle that did not cause an accident leading to a claim during the previous insurance year.
2. b) 15% of the minimum premium to the owner of the vehicle that did not cause an accident leading to a claim during the previous two years.
3. c) 20% of the minimum premium to the owner of the vehicle that did not cause an accident leading to a claim during the previous three years.
4. d) 10% of the minimum premium as "a loyalty reduction to the company's' customers". The reduction shall be granted to the owner of the vehicle at the time of renewing his policy with the same insurance company, provided that the insurance is not transferred to another person.

(4) The insurance company shall comply to immediately provide the customer who was insured with it with a free of charge certificate showing the insurance experience for the previous years electronically or in writing, where the company shall be liable for the data contained therein.

(5) The Company may grant a reduction to the fleet of vehicles or the fleet of motorcycles by not more than 30% of the minimum premium. The fleet means: "five or more of vehicles or Motorcycles owned by one natural person or a legal person, including ministries, federal and local authorities, official government or semi- official government bodies, an independent body, a charity or nongovernmental organization, a company or individual institution, etc."

(6) The company may grant a reduction for the vehicles running by gas or by electricity at the renewal time of not more than 25% of the insurance premium taking into account the accidents caused by the vehicle and led to claims. Nevertheless, when there is more than one reason for reduction, only the highest rate of reduction shall apply.

7. The provisions of the preceding paragraphs shall apply to the vehicle insurance against Third Party Liability and the vehicle insurance against loss and damage.

8. The salon Taxi and rental vehicles: As an exception from the provisions of paragraph (1) of this Article, the Company may agree with the Owner on the insurance tariff of this type of vehicles which shouldn't exceed (6.5%) of the value of the vehicle, based on the loss ratio, the technical opinion and its previous experience.

9. The "tariff'' of the Third Party Liability insurance shall apply to the "classic and old vehicle", provided that the determination of the premium of the vehicle insurance against loss and damage shall be subject to the agreement between the owner of the vehicle and the insurance company. The classic and old vehicle means "an old vehicle of historical value not less than 30 years old, has artistic industrial value, or has a unique design that is different from its like."

Article (3)

The provisions stipulated in this Decision shall be read and considered as an integral part of the provisions of The Insurance Authority Board of Directors' Resolution No. (30) of 2016 to issue the regulations of "Tariffs" of vehicle Insurance.

Article (4)

This decision shall take effect as of 01/01/2018 and shall be published in the Official Gazette.