Saudi Arabia – Suspension of companies does not interrupt coverage
Tuesday, 07 12 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Council of Cooperative Health Insurance confirmed that the decision to suspend any health insurance company in order to prevent it from issuing policies does not have an impact on the insured who subscribed for insurance before the suspension date. The Council suspended in the past days some insurance companies and prevented them from issuing policies after they committed contraventions.
The Council confirmed (according to information obtained by Al-Hayat” that some companies were suspended in the past period given “practices which are against the instructions issued by the Council, the non-implementation of agreements signed noting that few days ago an insurance company was suspended because it issued fake policies so it was stopped and was subesequently not allowed to issue any health insurance contract”.