The conflict in the Middle East and the blocking of the Strait of Hormuz have resulted in significant damage to vessels, cargo and port infrastructure in the region, says Allianz Commercial.
The news that a Memorandum of Understanding on a peace deal has been signed between the US and Iran could be a positive step toward easing geopolitical tensions in the region.
Saudi Arabia's 151-member Shura Council or Consultative Assembly has called on the Insurance Authority to study the challenges faced by the elderly in obtaining adequate insurance coverage. The call was made during a recent regular session of the Council.