Tawuniya receives SAMA approval for COVID-19 ins.
Tuesday, 05 04 2021, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Company for Cooperative Insurance (Tawuniya) received on May 3, 2021, the Saudi Central Bank’s (SAMA) final approval on insurance product for covering COVID-19 risks for Saudis traveling out of the Kingdom, the insurer said in a statement to Tadawul.
This will be with participation of some Saudi insurance companies, and the product will be sold through Tawuniya.
According to the data available with Argaam, SAMA and The Council of Cooperative Health Insurance (CCHI) announced on May 2, 2021, that they will update the insurance policies forms for non-Saudid coming from outside the Kingdom for tourism, visits and Umrah, by adding coverage for coronavirus infection risks.
The insurance coverage will help save treatment costs, along with expenses for quarantine procedures and medical evacuation, if required.