The Monetary Agency stated, in a statement issued today, Wednesday, that the new controls will enable micro, small and medium enterprises to obtain the best insurance coverage and the best prices.
And she said, that by organizing insurance brokers licensed by the Corporation to establish health insurance risk pools for these facilities; For the purpose of collecting the risks of these facilities in one risk pool to obtain health insurance coverage in the principle of large numbers.
She emphasized that the controls will contribute to giving small and medium enterprises an additional value in negotiating with insurance companies. To obtain appropriate insurance coverage at a fair price, in light of specific regulations and requirements for a mechanism for establishing risk pools that guarantee competitiveness and the quality of the services provided.
The Corporation also looks, through these controls, to regulate the relationship between the small and medium enterprises, the broker and the company, in order to guarantee the rights of the parties to the insurance relationship, and to provide appropriate services to the beneficiaries of the insurance coverage.
The Saudi Arabian Monetary Agency called on the public, specialists and those interested in the draft controls for the establishment and management of health insurance risk vessels to express their views and observations within (30) days, via e-mail ([email protected]).
Saudi Arabia expects a 97% recovery in oil demand in the last quarter of 2020