New measures to boost the Saudi insurance market

The Saudi Arabian Consultative Council has submitted a set of proposals to the local insurance authority aimed at strengthening the sector in the Kingdom.

The recommended measures include:

• Allowing insurers to directly handle the reporting of minor motor accidents without the need for intermediaries,
• Developing tools and methodologies to combat health insurance fraud,
• Establishing partnerships and signing agreements with national and international universities to launch insurance training programmes,
• Periodically reviewing reinsurance policies,
• Identifying the challenges and risks affecting the long-term sustainability of insurance companies.