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Deadbeat Carmaker on Wrong Side of Insurers

Deadbeat Carmaker on Wrong Side of Insurers Deadbeat Carmaker on Wrong Side of Insurers

Insurance companies have stopped offering third party vehicle insurance to new vehicles produced by SAIPA, Iran's second-largest automaker, due to the carmaker’s pattern of failure to settle its mountain of debts. 
Head of Iran Insurers Syndicate, Mohammad Alipour, said SAIPA’s debts to insurers climbed to 11 trillion rials ($86 million) in the past two years, IRNA reported. 
The arrears are related only to matured debts of the auto company and do not include debts with maturity dates in the future.  

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