Saudi Arabia – Unified compulsory motor ins. Contract
Friday, 10 26 2018, Category: Insurance and Reinsurance, Country: Middle East
The Saudi Arabian Monetary Authority announced on Thursday the unified compulsory motor insurance, which came as follows:
1- If the driver is under 18 Hijri years, the insurer has the right to recover the amounts paid previously as claims as long as the driver is not the insured and that his name is not mentioned in the list of drivers under age 18 in the contract.
2- In case of proved intentional accident, the insurer will not pay any claims
3- In case the driving license expired and it is not renewed within 50 days of the date of the accident, the insurer can recover the amounts previously paid as claims.
4- The insurer has to notify the insured before the expiry date of the compulsory motor insurance within 20 working days in order to help him renew or seek renewal at another insurer.
Source: Al Mowaten