News Middle East30 Mar 2020

Oman:Regulator directs insurers to provide online services to curb spread of virus

30 Mar 2020

Oman's insurance regulator, the Capital Market Authority (CMA), has urged insurance companies to provide electronic insurance services to their customers and suspend counter services, so as to curb the spread of COVID-19.

The CMA has issued a circular to all insurance companies, brokers and agents urging them to take a number of precautionary measures in line with instructions of the Supreme Committee tasked with handling the COVID-19 pandemic, reported Muscat Daily.

The CMA called on companies to adopt e-services in rendering insurance services and avoid direct transactions requiring visits to the offices of the companies.

The insurance companies have been urged to take the following measures:

  • Suspend all manual services and close all service counters at the head office and other offices. Render services electronically only through social media, as well as online and smart applications.

  • Publicise to policyholders via electronic media that the company will not be able to receive clients in its offices and that services would be provided only through electronic media and applications.

  • Advise that documents related to claims would only be accepted electronically.

  • Provide a communication centre working 24/7 to render the various services to policyholders including underwriting, claims, inquiries and support.

  • Provide the CMA with a work plan to ensure continuity of provision of insurance services easily and continuously.



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