Insurance is nothing but to make sure that we are protected against Financial Losses.
Saudi Arabia is a booming market and Insurance is booming tremendously. Medical insurance is compulsory for certain group and expected to be compulsory for all soon. Third Party Motor insurance is compulsory for all. Medical Malpractice and Property is expected to be compulsory. Many large organisations insist on compulsory insurance for Workmen compensation insurance, Public Liability Insurance ( also known as Commercial General Liability Insurance) Motor Insurance and Contractors works insurance. Over- all there is high probability of Insurance surge in Saudi Arabia. The formation of Co-operative Council for health insurance is one of the major thrust towards improvement in health insurance. The regulatory bodies like SAMA is looking after the registration process of Insurance providers.
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