Saudi Arabia – No plans to unify insurance prices
Saturday, 05 27 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Mr. Hesham Tashkandi, Acting Director General, Insurance Control at Saudi Arabian Monetary Authority (SAMA) said that the authority has no plans to unify insurance prices because it wants to support competition in order for insurers to do their best to offer the best services to customers.
According to “Al Watan” newspaper, Mr. Tashkandi said that procedures are being followed to make sure the safe driver and the bad driver are not treated equally, indicating that the Authority wants insurance prices to be acceptable. To that end demand has to increase for all insurance lines.