The Insurance Authority assumes health insurance duties as of today

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The Insurance Authority announced that, as of Monday, March 4, 2024, health insurance powers will be transferred from the Health Insurance Council to the Authority.

The authority said in a statement: numbers According to a copy of it, this is a continuation of the role of the Authority for which it was established after announcing the start of its work last November 23, as the Insurance Authority works to complete its founding goal as the only authority responsible for organizing, supervising and controlling the insurance sector in the Kingdom.

For his part, Naji Al-Faisal Al-Tamimi, CEO of the Insurance Authority, said that unifying the authority of the insurance sector and all its work under the Authority’s umbrella falls within the Authority’s future plans to develop a promising and sustainable sector in accordance with the highest international standards with the aim of providing insurance protection for all in addition to creating an attractive environment for local and foreign investments and enhancing Competition in the field of insurance, which in turn leads to improving services, increasing the diversity of insurance products, and raising the insurance sector’s contribution to the non-oil domestic product.

He stressed that there will be no impact on current insurance policies or claims, as the current laws and regulations will continue to be implemented, and policyholders and health insurance beneficiaries will continue to obtain all their rights under the current laws and regulations, and there will be no change in the current terms and conditions of insurance policies.

With regard to complaints and claims, Al-Tamimi explained that starting from March 4, 2024, all complaints and inquiries related to health insurance will be transferred to the Insurance Authority, where old complaints and claims will be followed up and new complaints will be filed through the Insurance Authority’s channels.

According to data numbersLast November, the Saudi Insurance Authority began its work, 90 days after the Authority’s regulations were published on August 25, 2023.