22 Hrs
Source:
الوئام
Council approves war risk insurance fund
The Council of Ministers has approved the establishment of a Saudi pool to insure war risks on goods and ships. This is a national mechanism aimed at enhancing the insurance market's capacity to cover marine risks. The pool's goal is to support the continuity of trade and supply chains, increase technical readiness and insurance coverage, thereby strengthening the resilience of the national economy and positioning Saudi Arabia as a global logistics hub. The Saudi Reinsurance Company will lead the arrangements under the supervision of the Insurance Authority, with participation from both the public and private sectors to ensure beneficiaries receive coverage according to approved conditions.
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