SAMA seeks public feedback on draft amendments of motor insurance rules

The Saudi Central Bank (SAMA) invited entities and parties concerned with the provisions of the rules the comprehensive motor insurance rules to send their feedback via Istitlaa platform, according to a statement today, Oct. 1.

The amended rules aim to expand the insurance coverage to include relatives, private drivers and sponsorees of those insured. The draft bill also limits the scope of the coverage to individual clients only, granting corporate clients greater flexibility to customize insurance coverages and benefits to suit their needs.

Suggestions and observations on the draft bill will be received within 15 days of this announcement for assessing their relevance in finalizing the rules, the cental bank added.

Source : Argaam