High-loss cover of Saudi municipalities suspended
Tuesday, 01 30 2018, Category: Insurance and Reinsurance, Country: Saudi Arabia
The “Al Hayat” newspaper quoted informed sources who said that Saudi Ministry of Municipal and Rural Affairs informed its agencies, departments, and municipalities in different regions of the Kingdom that health insurance was suspended starting from the next Hijri month.
These sources clarified that the ministry was notified by the insurance company that insurance was suspended because the loss ratio of the contract reached 300%.
Moreover, an alternative insurer will be found provided it offers competitive prices and that it covers all employees and their families.