Civil Defense Accuses Saudi Insurers of Being too Lax with Fire Insurance
Tuesday, 05 26 2015, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Civil Defense has criticized insurance companies operating in the domestic market of being insufficiently strict in implementing the terms of property insurance policies against the risk of fire (factories, warehouses, workshops, residential and commercial complexes, restaurants, gas stations and other important but hazardous property). Insurance policies are issued without referring to the General Directorate of Civil Defense to apply for a permit or to ensure that the Civil Defense permit is valid.
Colonel Dr. Nasser Al A’arid, Director of the Studies Division of the Saudi Arabian Civil Defense, stated that investigators’ dealings with the General Directorate of Civil Defense concerning accidents in insured sites show that insurers insist on obtaining a report from the Civil Defense as a prerequisite to receiving claims and settling them in the event of any disaster that is covered by insurance even though they don’t request a permit from the Civil Defense for the insured prior to providing insurance.
Source: Al Jazirah Newspaper