Capital Market Authority: Implementation of Compensation Decisions Regarding Accidents in Areas Under Israeli Control is One of the Pending Issues

SadaNews Exclusive: The Capital Market Authority confirmed that many accidents occurring in areas under Israeli control or on joint roads, such as bypass roads, create difficulties in accessing and directly examining them.

Regarding the current processing mechanism, the Capital Market Authority indicated to "SadaNews" that the legal provisions for insurance in both Palestine and the other side are similar, where each insurance company is obliged to compensate passengers and injured individuals in each vehicle according to the provisions of the insurance contract. (Palestinian vehicles by Palestinian insurance companies and Israeli vehicles by Israeli insurance companies.)

It pointed out that in some cases, compensation is settled through lawyers or legal intermediaries, noting that some companies resort to judicial channels or negotiations, but settlements are often complex and slow, making it difficult to fully secure rights.

Regarding the most prominent pending issues concerning compensation with the Israeli side, the authority stated that they consist of a lack of mutual recognition of court rulings or assessments from insurance companies, especially judicial rulings issued by Palestinian courts, in addition to the difficulty of implementing compensation decisions.

It is noteworthy that the subscription rate for vehicle insurance from the insurance portfolio constituted about 66% until the first half of this year. 

It noted that the concentration of the insurance portfolio around vehicle insurance is due to the legal obligation since vehicle insurance (mandatory) is legally imposed on all vehicle owners, which naturally raises demand for it, in addition to the weak insurance culture, as many citizens do not realize the importance of other insurances, such as health insurance, life insurance, property insurance, or agricultural insurance.

Regarding complaints from insured individuals who claim that repairs of their vehicles in case of accidents are done with technically inadequate specifications, the authority stated: "We ensure that the repair operations for damaged vehicles are conducted in accordance with the provisions of the insurance document, whether in terms of the quality of spare parts used or in terms of the approved technical specifications, ensuring that the insured receives the service they contracted for in full."

The authority pointed out that it has allocated a specialized department to receive and follow up on citizens' complaints regarding insurance companies' failure to comply with insurance law provisions and the regulations and instructions issued under it, or breaches of the terms of contracts signed with the insured, including complaints related to the quality of vehicle repairs.

It added that handling complaints is through specialized technical and legal follow-up, and taking necessary actions when needed.

If a violation by an insurance company is proven, the authority confirmed that it takes necessary measures to rectify the situation and ensure the protection of the rights of the affected individuals.

It is noteworthy that there are 13 insurance companies operating in Palestine, providing services across various insurance branches, including vehicle insurance, health insurance, life insurance, property insurance, and agricultural insurance.

Profits of insurance companies listed on the Palestine Stock Exchange, numbering eight, increased by 13% by the end of the first nine months of 2025 on a year-on-year basis, recording profits of about 9.5 million dollars compared to 8.4 million dollars for the same period last year.

Total insurance premiums reached 203.9 million dollars by the first half of the year, while insurance expenses, including incurred claims, amounted to about 164.21 million dollars.