Saudi Arabia – Traffic accidents raised insurance prices
Thursday, 12 29 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
Mr. Adel Al-Issa the media spokesman of insurance companies stressed the importance of reinforcing traffic laws in order to decrease the number of motor accidents, which he described as “dangerous”. He told “Al Hayat” newspaper that “we all share the views of the Shura Council about the necessity of limiting insurance price increases”.
However, he also added “there is no doubt that controlling motor insurance price increases has to be done on a scientific basis by solving all the issues that led to increases in motor insurance rates”. He noted that the huge increase in traffic accidents in the previous years contributed to increases in prices.
Source: Al Hayat