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The Saudi Monetary Agency (SAMA) has announced the update of some items of the Unified Compulsory Vehicle Insurance Policy currently in force, as part of its efforts to develop the sector of the economy. insurance and protect the rights of insured persons and beneficiaries of insurance coverage against any practice that may harm them. .
SAMA said in a statement that the amendments to the document included the amendment to Article 8 relating to the right of the insurance company to return to the insured and claim compensation from him. for what was paid to third parties in case of application of any of the cases mentioned in the document, when a maximum period of one year was set The insurance company has the right to appeal to the insured, which is included in the unified document to avoid the problem of damage to a third party injured by an accident caused by the insured vehicle when the insured or his driver has committed traffic violations or contravenes the terms of the insurance policy.
The changes to the Unified Vehicle Insurance Policy also included a change to one of the terms and conditions listed in section 7) of the policy regarding the inclusion of the insured's name in the company's system. authorized to collect consumer credit information (Samaha), so as to limit the right of insurance companies to include the name of the insured in case of late payment of the subscription payment; insurance without default of payment of claims due on the right of appeal.
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