Saudi Arabia – Insurance on all residents
Wednesday, 03 29 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Council of Cooperative Health Insurance has set April 10th as the date of implementation of the fourth phase of the unified insurance contract in the private sector for companies who have 1 to 25 workers. Under the fourth phase of the unified insurance contract, it is compulsory for every company in the private sector to unify its insurance contract at the same insurer. The contract will have to start at a certain date and end in a certain date.
Moreover, one of the objective of the unified insurance contract is to eliminate fake insurance and avoid having different contracts on different companies for different dates, which is a source of confusion for insurance companies and beneficiaries.
Source: Al Hayat