The Decision to Raise Car Insurance Fee is Suspended

The Insurance Regulatory Unit has retracted its decision to increase the car insurance fee in Kuwait, according to the unit's statement on Thursday.

The Chairman of the Higher Committee of the Insurance Regulatory Unit issued the statement to temporarily suspend the insurance fee hike until the unit has completed a joint study on the subject matter with the Ministry of Interior. 

The Insurance Regulatory Unit had approved the act to increase annual insurance fees for private vehicles from KD 19 to a minimum of KD 32 or a maximum of KD 53, which was supposed to be effective from April 16th.  

However, the decision has been retracted only after a week of approval, and further developments will only be revealed after the insurance unit has coordinated with the interior ministry.