The Saudi Arabian Monetary Authority (SAMA) has announced the issuance of an update to the unified policy for compulsory vehicle insurance, which is due to commence on August 26, 2018. According to a statement issued by SAMA, one of the most prominent amendments to the document is that, in contrary...
The Real Estate Regulatory Authority (Rera) has signed a partnership agreement with Bahrain Insurance Association (BIA) to develop real estate insurance bonds. Bahrain thus becomes the first GCC country to provide such bonds, which will ensure more protection to buyers of off-plan housing projects. BIA will issue the bonds under the...
The Cabinet, upon the recommendation of Health minister Mahmoud Sheyyab, decided recently to cover all patients diagnosed with cancer with free insurance. Each of these citizens will receive an insurance card to be renewed annually till the end of treatment, the Jordan News Agency has reported. The decision authorises heads...
Insurance information and technology solutions provider Beyontec has said that it has been chosen by Oman-based Dhofar Insurance Company to implement the Beyontec Suite, its core solution, across all major lines of business. Beyontec’s proven delivery proposition and deep industry experience will provide Dhofar Insurance the agility to respond to...
The health insurance program that the health ministry offers for retired citizens will cover new treatments when the new tender is awarded later this year. The ministry had started last year a program that covers medical expenses for retirees at private clinics. The program, dubbed ‘Afiya’, covers basic treatments, but...
The Bahrain Institute of Banking and Finance (BIBF) has signed a memorandum of understanding (MoU) with Silah Gulf, a contact centre services provider, to develop and enhance learning opportunities. Dr. Ahmed Abdul Hameed Al Shaikh, director of BIBF, and Ricardo Langwieder-Görner, chief executive officer of Silah Gulf, signed the...
The CCHI secretary-general, Mohammad Bin Salman Al Hussein has said that health insurers paid healthcare providers claims in excess of SAR15.3 billion and that gross written premiums reach SAR18.9 billion by the end of last year. The number of insured Saudis was more than 2.73 million, 23 percent of the...
Qatar Reinsurance Company Limited (Qatar Re) has announced that it has ceased writing new and renewal business from its branch office in Singapore. The Company will work closely with its Singapore-based staff, its clients and broking partners and regulators to ensure the orderly administration of existing business written from the...
Global marine insurer, North P&I Club, and specialist marine services provider, 24Vision, have entered into a partnership agreement to provide P&I insurance to charterers and smaller ship operators. Founded in 2015, 24Vision has a five-member team based in DMCC, Dubai, headed by Frederick de Preter, and the company believes that...
A.M. Best has been voted the International Best Ratings Agency for Takaful at the International Takaful Awards 2018, held in conjunction with the 12th International Takaful Summit in London. This is the fourth consecutive year that A.M. Best has won the award. The International Takaful Awards recognise the achievements of companies...
