Oman – Motor claims exceed OR 100 million in 2016
Monday, 04 10 2017, Category: Insurance and Reinsurance, Country: Oman
The Capital Market Authority (CMA) organized a traffic safety event in collaboration with the Royal Oman Police and Omani association for traffic safety.
CMA President His Excellency Abdullah bin Salim al Salmi launched the event saying that the objective is to raise awareness about traffic safety in order to clarify problems and solutions as well as the repercussions of this issue.
Moreover, he indicated in a statement made to journalists that the number of traffic accidents and related deaths decreased largely starting with year 2012 until today. Therefore, the number of death decreased and this is an economic and social issue that affects all the levels of society and will have a positive impact on everybody.
His Excellency clarified that the size of claims paid by motor insurance companies last year exceeded OR 100 million and that this large amount threatens the national economy as these funds can be channeled to development projects instead of being lost in traffic accidents.
Source: Oman Daily