Motor fraud increase in Saudi Arabia

Saudi Arabia shows significantly high rates of motor fraud (15-20%, compared to the global average of 9 to 10%). With more than 26 000 cases since 2017, fraud has caused tremendous financial losses that have reached 245 million SAR (65.2 million USD) over the past three years.

NAJM, the Insurance Services Company, reiterates its commitment to fighting such offences notably by collaborating with the General Administration of Traffic and the Saudi Arabian Monetary Authority.

Meanwhile, the insurance company intends to enhance its geographic expansion as it is currently operating in 38 Saudi cities only.For the record, the motor class of business represents 25% of the insurance market in Saudi Arabia. Although 12 million cars are driven in the kingdom, only half of them are insured.

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