Saudi Arabia: Insurers to provide cover only to shops with surveillance cameras
Source: Middle East Insurance Review | Jan 2018
The Saudi Arabian Monetary Authority (SAMA) has directed insurers to issue or renew policies for shops only after confirming the existence of surveillance cameras in the commercial establishments.
This move came after the discovery of a number of criminal acts in shops, including arson and theft. The crimes were committed to obtain compensation from insurers, reported Arab News.
The cameras are needed to ensure high security standards and crime preventive procedures in the insured shops. They would also facilitate the settlement of claims and strengthen cooperation between the insurance industry and the police, and deter criminal acts. M