Saudi Arabia – Compulsory insurance for young-aged ignored
Friday, 03 03 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
A number of citizens was surprised by the refusal of some insurance companies to provide compulsory insurance to them even though the Saudi Arabian Monetary Authority issued a decision in order to compel insurers not to decline motor and travel insurance due to age.
“Al Watan” newspaper visited some branches of insurance companies to check the credibility of the decision and found that a number of insurers still ignores the decision. The spokesperson of insurance companies Mr. Adel Al Issa told “Al Watan” that the decision is still very recent and it is expected to be implemented within two days from the issuance of the decision by the Authority and he said that it is strange that the decision has not been implemented until now.
Source: Al-Watan Online