The new insurance laws in UAE’s recently passed Insurance Settlement Dispute Committee (IDC) with the Banking and Insurance Dispute Resolution Unit (Bidru), which functions as an independent juristic personality that was created to receive and handle complaints against insurance companies.
The body would also resolve disagreements pertaining to insurance contracts, works, and services under the new laws.
Global legal firm Holman Fenwick Willan (HFW) claims that under the new UAE insurance rules released by the government, an insurer is not permitted to appeal a judgment made by the Bidru if the claim amount is less than Dh50,000. In the event that the claim amount above Dh50,000, the insurer has the option to file an appeal with the Court of Appeal within 30 days after the decision’s issuing date or notification.
“The referral of decisions to the Court of Appeal is a positive move towards decreasing the number of steps needed to obtain a final and legally binding decision regarding insurance claims, and shows that the Bidru will function similarly to the UAE Court of First Instance,” stated Sam Wakerley, head of insurance.
Federal Law No. 48 of 2023, which the UAE adopted to replace Federal Law No. 6 of 2007, went into force on November 30, 2023.
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