Saudi Arabia – Complaints about transport insurance rates
Friday, 02 10 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The meeting held by the transport committee yesterday (Thursday) at the Sharqiyah Chamber of Commerce & Industry finalized the detailed report in order to submit it to the competent authorities in order to treat the negative phenomena such as the non-compliance of foreign trucks with local regulations as well as studying motor insurance rates applied to the transport sector once they were raised by 100%. This motivated companies to restrict and decrease their activities or to top activities altogether in order to obtain the needed insurance licenses.
Moreover, all issues related to expenses, labor cost, oil prices and insurance were also discussed.