KSA - SAMA appreciates the ins. initiative to grant motor discounts
Thursday, 07 09 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Saudi Arabian Monetary Agency “Sama” valued the initiative of the Saudi insurance companies to grant a discount within the framework of the “Insure Safely” campaign for all insured persons in compulsory vehicle insurance documents for individuals “against third parties” by (10%), and comprehensive vehicle insurance policies for individuals by (15%); And for insurance policies that are purchased or renewed within sixty days from the date of 7/7/2020 until the date of 6/9/2020 AD, this initiative comes; To encourage citizens and residents to obtain vehicle insurance coverage, in line with the traffic safety awareness campaign in its second phase under the slogan “#Insure Safely”, with the participation of the General Traffic Department and Najm Insurance Services Company, in cooperation with insurance companies.
The new discount, in addition to the two current shares in accordance with the instructions of the Monetary Agency, is granted in the absence of insurance claims, which amounts to (50%) in the case of compulsory insurance, and to (60%) in the case of comprehensive insurance … and the loyalty discount that companies provide to their customers in the event of renewal of documents With her (10%).
This period is characterized by providing an opportunity for the insured to obtain three discounts; Provided that they purchased insurance policies during the specified period, and that the other conditions of the other discount are applied to them; As the total discounts may reach (80%). This initiative is part of the efforts of insurance companies; To enhance societal awareness of the importance of obtaining insurance coverage to face risks, and the belief of these companies in their social duty.