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Compulsory insurance for busy and risky areas
The Saudi Insurance Authority, in collaboration with the Civil Defense, announced the issuance of the mandatory cooperative insurance policy for crowded venues and high-risk activities within the Kingdom. The aim is to cover the civil liability of establishments for bodily injuries and material damages resulting from accidents at these sites. The compensation amount varies depending on the nature of the activity and the level of risk. Obtaining this policy is a requirement for licensing activities that are mandated to have insurance, in support of business sustainability and the improvement of the investment environment in line with Saudi Vision 2030. This measure provides financial protection for establishments and enhances confidence in the economic sector.
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