Oman - CMA instructs insurers to provide coverage for drivers with expired licenses
Thursday, 04 02 2020, Category: Insurance and Reinsurance, Country: Oman
The Capital Market Authority has instructed the insurance companies to provide insurance coverage for owners of vehicles whose driving licenses have expired after the Royal Oman Police suspended renewal services in line with the measures taken by the Supreme Committee tasked with dealing with the new coronavirus (COVID-19) to curb its spread.
CMA said in a letter addressed to insurance companies to provide the coverage even if the driving license of the insured is expired until the end of the epidemic and to provide indemnity in traffic accidents even if the license is expired. The move comes to ease the procedures in view of the exceptional circumstances and to adapt with the precautionary measures as a priority for the owners of moto vehicles to cover the risk expected from using the vehicles such as traffic accidents.
CMA has announced last week a number of precautionary measures related to the insurance sectors to curb the spread of the coronavirus in line with the instructions of the Supreme Committee to curb the outbreak. CMA issued a circular to all insurers to suspend manual transactions in insurance services including closure of counters and provide the service electronically to render the service remotely to the customers.
Source: Times of Oman