Saudia-Online the Net Gate to Saudi Arabia Market
Saudi Arabia Business News
Business Opportunities
Business Guide
Companies Directory
Corporate Websites
Currency Exchange
Saudi Arabia Events
Local News
Saudi Stocks
Monthly Economic Reports
Saudi Arabia Travel
Saudi Arabia Weather
Submit Press Release
Read Press Releases

Free Websites
 for Saudi companies and Establishment


for Foreign companies 
interested in exporting
to Saudi Arabia

Community Sign Up

Message Boards
Should women be in the army?

About Saudi Arabia
About us

Arabic cuisine
Arabic newspapers

Arabic radio and TV

Free downloads

Saudi Arabia ISP's

Science and Technology

Send us feedback


Traveling to Saudi Arabia

Phone Free

Top Saudi Arabia Business News


Mandatory car insurance discussed
 Jeddah 15th May 2001

  The Shoura Council is scheduled to discuss in its next sitting a bill for the mandatory third party cooperative insurance scheme for cars which will cover the cars, property, death and damages to victims of an accident in which the insured party is involved, according to a reliable source. This basic insurance service is available in most countries of the world.

An earlier study on insurance recommended the linking of the third party insurance with the buyer’s driving license, a practice followed by sellers of cars on hire purchase, according to sources in the insurance market.

Third party insurance will solve the problem of drivers who are involved in accidents but do not have the means to meet the cost of damage to their victims. Several studies have revealed that most drivers involved in accidents were unable to pay for the damages caused by them to other people and their property. These drivers remain in jail until their obligations are paid, a market source said.

The third party insurance is a necessity as cars are affordable even to people with very low income. The total number of roadworthy cars in the Kingdom is estimated at 6 million. Some victims used to be content with the part payment of the cost of damages offered by poor drivers while others waived their claims in full.

The Saudi government is expected to implement shortly a health insurance scheme to the 6 million expatriates working in the Kingdom.

The cooperative health insurance scheme will be applicable to every wage earning expatriate worker even if he is self-employed. Their income level, nature of employment or duration of employment is not a condition for the insurance coverage.

Non-working residents such as students and those who accompany other expatriate workers, also come under the regulation on condition that the establishment or agencies to which they belong undertake their insurance.

The new regulations exempt all expatriate workers in government establishments and agencies from the scheme. Saudi citizens will come under the health insurance in the second phase of the scheme.

Source: Arab News© 
Send Page To a Friend  

Starting Business with Saudi Arabia Use the Saudi Business Guide

Join the mailing list
Your Email Address:

Archives Section

Back to Business News


Free services in Saudia-Online
Free services

Free Websites for 
Saudi Arabia

Free services

Free Websites for Saudi companies and Establishment

Free services

Free Websites for
Saudi Arabia Travel
Agencies and Companies

Free services

Free Domain

Free services

List your Saudi
Arabia Company in
our Directory

Free services

Subscribe to our

Free services Jobs......
Post a job!

Job Openings

Free services

Advertise Free
Classifieds section. 

Free services

Gift Reminder

Free services


Get Stock Quote: Enter Symbol's)

Symbol Lookup
My Portfolio
Our Privacy Vow 


Make Saudia-Online My Start Page  -  Bookmark Saudia-Online
Contact Us -  Advertising Info -  About Us -  Terms Of Service -  Add My Site -  Privacy Policy 

© 1999-2000 by Horizon for Commercial Development Co., Ltd, All rights reserved.
  Saudia-Online,Malls2Save,JeddahMalls,RiyadhMalls,RiyadhShops,SaudiMade,Travel2Saudi and HDC are  trademarks of Horizon for Commercial Development Co. Ltd.  P.O. Box 14657, Jeddah 21434, Saudi Arabia
 Telephone 00966-2-6693585, Fax 00966-2-6693472

15 May 2001 06:08:38 PM

Click Here!