KSA – Jeddah floods surprisingly uncovered
Tuesday, 11 28 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Mr. Adel Al-Issa, the official spokesperson for insurance companies said that comprehensive motor insurance contracts do not cover the damages of natural catastrophes or floods. Therefore, many insureds were shocked.
Moreover, Mr. Al-Issa clarified through a phone conversation with the program “Ya Hala” that insurers have different approaches in including natural catastrophe damages within insurance contracts.
Source: Twasul Newspaper