Saudi individuals' reluctance to vehicle insurance 'high', says Najm CEO

16/08/2021 Argaam

Mohammad Al Suliman, CEO of Najm for Insurance Services Co.

Saudi individuals' reluctance to vehicle insurance in Saudi Arabia is high, Al Saudiya TV channel reported, citing Mohammad Al Suliman, CEO of Najm for Insurance Services Co.

 

He attributed such reluctance to several reasons, mainly awareness of insurance as well as the regulations and laws that are still being developed to support expansion in the insurance sector. In addition, some people consider insurance as a kind of luxury and not one of the basics of life.

 

One of the reasons that support the reduction of insurance policy rates is the insurance for everyone, the top executive said.

 

He indicated that, with an integrated insurance rate, the policy rates would reach less than 50% of the current rate.

 

The increase in awareness of insurance as well as growth in demand for policies help reduce prices, Al Suliman concluded.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.