Saudi Arabia's financial authority, the Saudi Central Bank (SAMA), is taking significant steps to enhance regulations in the insurance sector. The implementation of the Revised Comprehensive Motor Insurance Rules represents a milestone in this endeavor, aimed at ensuring the protection of beneficiaries' rights.

1. Broadening Insurance Coverage:

The updated rules bring welcome changes, expanding insurance coverage to encompass a wider range of individuals. This includes not only the insured but also their relatives, private drivers, and sponsorees.

2. Customized Corporate Coverages:

One notable feature of this amendment is the refined scope of coverage for individual clients. Corporate clients are set to benefit from enhanced flexibility, enabling them to tailor insurance coverage and benefits to match their unique needs and preferences.

3. Transparent Review Process:

Before being put into effect, the draft amendment underwent a transparent review process. It was made accessible to stakeholders and the public through the National Competitiveness Center's Public Consultation Platform. This platform allowed for valuable input and feedback from those involved.

4. Accessible Information:

For those seeking detailed information about the Amended Comprehensive Motor Insurance Rules, SAMA has made them easily accessible on its official website. This ensures that insurers, clients, and all interested parties can access comprehensive details.