Saudi Arabia – 50% of vehicles are uninsured
Tuesday, 08 23 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
The media spokesperson of insurance companies in Saudi Arabia Mr. Adel Issa confirmed that the number of insured vehicles in Saudi Arabia does not exceed 50% of total vehicles in the Kingdom, indicating that compulsory insurance has not been fully implemented yet although it is legally compulsory on all vehicles.
Mr. Issa clarified that insurance companies suffer from fake insurance cases, which cause losses to insurers, confirming that this type of insurance causes troubles to insurers as well as losses, so insurance prices had to be raised since the beginning of year 2014.
Source: Al Yaum - Saudi