Oman: Regulator grants four TPA licences

Source: Middle East Insurance Review | Oct 2021

The Capital Market Authority (CMA) has issued licences to four third-party administrators (TPAs) as of 30 June, ahead of the formal launch of the Mandatory Health Insurance scheme called ‘Dhamani’.

The compulsory health insurance scheme for private-sector employees and their dependents, as well as tourists and visitors to the sultanate, is expected to be rolled out later this year.

In a statement, the sector regulator said the new licences will enhance the delivery of health insurances services, given that TPAs are competent in claims administration and compensation evaluation and play a major role between health service providers and health insurance policyholders.

Last year, the CMA issued regulations governing the practice of TPAs, who administer medical expenses, claims management, payment and render support for health insurance policyholders.

The health insurance sector in Oman grew at an average rate of 19% over the past eight years. It now accounts for a 34% share of gross premiums, totalling OMR466m ($1.21bn) in 2020. M

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