Oman - Insurers record 23,800 traffic accidents in Q1

Unaudited quarterly statements of the insurance sector for the first quarter of 2020 showed that the total number of traffic accidents was 23,800 accidents including 4,100 major accidents and about 19,700 minor accidents.

The data showed that the claims for minor accidents grew by 9% in 2020 compared to the same period in 2019 at more than 20,400 minor accidents. The number of claims for major accidents grew by 11% to 4224 accidents.

The data recorded an increase in the number of traffic accidents claims resulted in damage, in addition to treatment expenses for physical injuries by 12% compared to the same period in 2019. The number of claims for deaths increased by 6% to 145 traffic accidents.

Compensations paid by insurance companies for financial damage resulted from minor traffic accidents decreased by 26% to RO 4.7 million and considerable increase in the claims for major traffic accidents by more than 300% at RO 2.45 million. As to compensations related to major traffic accidents, which recorded financial damage, in addition to treatment expenses increased by 6% at RO 1.3 million and the volume of compensations paid as Diya (Blood money) for deaths from traffic accidents decreased by 19% compared to the same period in the past year at RO 285,000 as per the unaudited initial results of the first quarter of 2020.


Source: Oman News Agency