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Malath Insurance to market the first construction policy in the KSA

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Magazine Issue: 
Coronavirus: a crash test for the Chinese insurance business [3]
Magazine date: 
Feb 2020

Malath Insurance CompanyMalath Cooperative Insurance Company is marketing the first insurance policy designed for the construction market. The latter covers real estate developers and contractors against the losses related to possible hidden defects that may arise after the completion of the construction works.

This new product enables Malath Cooperative Insurance to meet the growing needs of the construction market.

For the record, Saudi Arabia spent 6 trillion SAR (1 597 billion USD) on building and major public works in 2019 . More funds  are believed to be allocated for Saudi Vision 2030.

Read also | Construction insurance to be launched in Saudi Arabia [4]

Wed, 04/03/2020 - 12:27

Source URL: https://www.atlas-mag.net/en/article/malath-insurance-to-market-the-first-construction-policy-in-the-ksa

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[4] https://www.atlas-mag.net/en/article/construction-insurance-to-be-launched-in-saudi-arabia