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QIC supports traffic law amendment by issuing 2 and 3 - year car insurances for newly
registered cars
Qatar Insurance Company (QIC), Qatar’s leading insurance company yesterday announced that it will
support the latest amendment to the Traffic Law by issuing 2 and 3 - year car insurances for newly
registered cars. This initiative is aligned to the latest amendment to Traffic Law No 19 of 2007 that was
recently approved by the Cabinet. According to the amendment, new cars can now be registered for
three years.
This unique new feature offered by QIC is applicable both for Comprehensive and Third Party Liability
covers and would be valid up to two or three years from the date of registration of the new car. The
product can be purchased exclusively from any of QIC’s branches or from the car agency.
Speaking on this new initiative, Mr. Ali Al Fadala, Senior Deputy Group President & CEO of QIC Group
stated, “We have always been proactive in terms of responding to the changes in traffic rules in Qatar.
We structure our products according to the needs of our customers, and ensure that they are in
accordance with the amendments to the traffic rules. He further added, “Bearing in mind that the price
is an important determining factor, we also make sure to price our products competitively.”
About Qatar Insurance Company:
Qatar Insurance Company (QIC) is a publicly listed composite insurer with a consistent performance
history of 50 years and an underwriting footprint across the Middle East, Africa and Asia. Founded in
1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market
leader in Qatar and a dominant insurer in the GCC and MENA regions. QIC is one of the highest rated
insurers in the Gulf region with a rating of A/Stable from Standard & Poor’s and A(Excellent) from A.M.
Best. In terms of profitability and market capitalization, QIC is also the largest insurance company in the
MENA region. It is listed on the Qatar Exchange and has a market capitalization of USD 4 billion.
For further information on QIC, please visit: www.qatarinsurance.com.