Saudi Arabia – Instructions of MoH will increase prices by 25%
Monday, 08 29 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
The official media spokesperson of insurance companies Mr. Adel Issa said that the latest instructions issued by the ministry of health are not clear on whether it concerns the insured or the uninsured inside vehicles.
He clarified according to “Al Watan” newspaper that the instructions were not conveyed to insurance companies officially. Therefore, it was not commented indicating that companies need to understand the new decision.
The newspaper quoted an insurance sector expert as saying that the decision will raise motor insurance prices by 25% as a minimum since it increases the burden of insurance companies.