Saudi: A pool for compulsory travel insurance
Source: Middle East Insurance Review | Jun 2021
The Saudi Central Bank (SAMA) has approved the establishment of a pool to cover the compulsory travel insurance risks for citizens travelling abroad. The compulsory travel policy covers risks of COVID-19.
The pool was set up after the travel ban was lifted last May. The pool, designed on a co-insurance basis, consists of 12 providers, with Tawuniya being the leader. Other insurers participating in the pool include Allianz Saudi Fransi Cooperative Insurance, Alamia, MedGulf, Gulf General, Walaa, Al-Rajhi, Malath, Al-Etihad, Burouj, AXA and Al-Saqr. M