Riyadh November 8 2023: The Saudi Central Bank (SAMA) announced the issuance of the amended comprehensive motor insurance rules, as part of the ongoing effort to regulate the insurance sector and protect the rights of beneficiaries, according to a statement today, Nov. 7.
The amendments seek to expand the motor insurance coverage to include relatives, private drivers and sponsorees of the insured. They only define the scope of the coverage to individual clients, granting corporate clients greater flexibility to customize insurance coverages and benefits according to their specific needs.
In October, SAMA invited entities and parties concerned with the provisions of the comprehensive motor insurance rules to send their feedback via Istitlaa platform.
