6 health insurers are suspended for not respecting regulations
Saturday, 07 04 2015, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Council of Cooperative Health Insurance in KSA told “Al Eqtisadiah” that it issued decisions to penalize six health insurance companies by suspension, because these companies did not respect the rules and regulations of the council. They issued insurance policies without fulfilling the document requirements, there are health insurance contracts which are not in conformity with the requirements. Therefore, the council penalized five companies by suspension for a period extending to four months and penalized the sixth company by suspension for a period extending to six months starting from the date at which the violation was uncovered and the penalty was imposed.
Mr. Mohammed Bin Salman Al-Hussein the Secretary-General of the Council of Cooperative Health clarified that “the council lifted the suspension imposed on a number of health insurance companies in a previous time, after they corrected their situation and complied with the standards and laws of the health insurance system and the executive rules of the unified insurance policy.
He stressed that the council will implement its duties and respect its responsibilities by preserving the rights of the insured and strengthening the health insurance industry. He also indicated that the council is still conducting regulatory visits in a number of health insurance companies through different mechanisms in order to apply the regulations on violating companies and with respect to the executive law and the unified policy.
Source: Al Eqtisadiah