Shaqran Al-Rashidi – Qassem Al-Khubrani – Previously – Riyadh: In an important step for the development and growth of the Saudi insurance sector, the honorable Council of Ministers approved a short while ago to establish an authority under the name of the Insurance Authority; To raise the contribution of the insurance sector to the economy, increase job creation, and encourage investment.. In the same context, the General Traffic Department announced the start of automatic monitoring of the violation of lack of valid vehicle insurance on all roads, as of Sunday 10/1/2023 AD.. and in view of this great interest From the state – may God support it – in this vital sector that concerns members of society, citizens and residents; There is currently a problem of excesses that many suffer from, represented in insurance companies raising vehicle insurance rates exaggeratedly, and procrastination when requesting the disbursement of the dues of those affected by many justifications, most of which are illogical. Although the profits of these companies exceeded half a billion riyals last year, about (689) million riyals – according to what was revealed by the Central Bank of Saudi Arabia – but the companies are still committing violations by increasing their prices increasingly, which has exhausted the budget of the citizen and resident.
2023-09-06 08:49:42
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