24 Hrs
Source:
الاقتصادية
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Saudi Arabia introduces cooperative insurance for public spaces
The Saudi Arabian Monetary Authority (SAMA) and the General Directorate of Civil Defense have jointly launched a cooperative liability insurance policy for crowded places and high-risk activities. The aim is to cover the civil liability of establishments for bodily injuries and material damages resulting from accidents within insured sites. This insurance is mandatory according to the Council of Ministers’ decision and focuses on safeguarding facilities from financial burdens while promoting their sustainability by covering risks and reducing the impact of incidents. The policy will be implemented in phases and will contribute to supporting investments and achieving the objectives of Saudi Arabia’s Vision 2030 by improving the business environment and increasing market confidence.
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