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1. Removing depreciation deduction (OPCF 43) As soon as you drive a new car off the lot, it starts depreciating in value. Generally, if your car is damaged beyond repair, a depreciation deduction endorsement will ensure you’re reimbursed for the full purchase price, not the depreciated value. Saying no to this endorsement can leave you without enough money to buy a new vehicle should the need arise. This endorsement makes the most sense for brand new cars where the full value is still quite high. A waiver of depreciation usually lasts from between 24 and 48 months. Unfortunately, the expense to carry this endorsement will increase as the car gets older. ....
CMA to update electronic link between insurance firms, ROP SHARE The Capital Market Authority recently floated a tender for the operation and maintenance of the e-insurance systems which was launched in 2008 in continuation of the development and improvement of the services related to digital transformation. The system links the insurance companies, Royal Oman Police, and insurance policyholders. CMA aims to enhance the role of technology and maximize its uses especially its role in serving policyholders and other stakeholders to ease registration, renewal, transfer, and export of motor vehicles, and issuance of registration certificates. It also furnishes insurance companies a database containing specific data on the drivers and vehicles such as traffic accidents and violations for use in underwriting. ....