2 Top Carmakers Fail to Pay Insurance Bills

Majid Moshalchi, the deputy chief of the Central Insurance company of Iran (CII), the industry regulator, has disclosed details about ten major brokers and agents with major debts to the insurance sector as of March. 
According to Moshalchi, the ten, including the two major carmakers, account for approximately 80% of the total debt within the sales network with a 100,000 payroll, Risknews website reported.
"The CII, as the regulatory body, will make every effort to quickly collect the [unpaid] premiums and enforce the law against those in breach," he said. 
"Insurance companies resorted to legal means, including suspending policy issuance and enforcing guarantees, to collect the debt from the sales network”.
He revealed that in sum 211 brokers and agencies owe an estimated 22 trillion rials ($43.1 million) to insurance companies. He concurred that the “amount may not be significant compared to the debts of other industries.”