Health and motor insurance tariffs

The Saudi Arabian Monetary Agency (SAMA) remains opposed to an increase in motor and health insurance tariffs. Experts reveal that these increases are vital to both classes of business in order to cope with their losses. In addition, they are in favor of an intervention from the Cooperative Health Insurance Council to solve the problem of inflation in the prices of medical services.

The motor industry has seen a leap of insurance premiums in April 2013. A further adjustment is still expected in this class of business. SAMA is opposed to this increase, requiring compliance with the insurance Code which imposes a purely actuarial calculation of motor insurance premiums.