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Announcement Details

  • Title:

    Insurance Companies' Rejection to Provide Compulsory Vehicle and Travel Insurance Due to Driver's Age is illegal

  • Organization:

  • Announcement Date:

    06 September 2578

  • Announcement Details:

    The Saudi Arabian Monetary Authority (SAMA) confirmed that all SAMA-approved insurance companies should provide fair prices to all insurance coverage applicants based on subscription rules and technical grounds as long as the driver has a valid driving license issued by the General Directorate of Traffic. If any company declined to issue an insurance policy to an applicant, it must provide the applicant with a letter clearly explaining the rationale and the reasons of rejection, which should not be based on any of the company's constraints relating to driver's age.