Saudi monetary authority warns 2 insurance providers on compliance

Sat, 2019-12-28 04:19

RIYADH: The Saudi Arabian Monetary Authority (SAMA) has announced that the Rowad Insurance Company of the Cooperative Insurance Agency and Forsan Insurance Agency Ltd. had failed to comply with regulatory requirements and instructions, and not responded to notifications from the authority.
SAMA called on the two companies to quickly correct conditions within 20 working days or face license cancelation.
SAMA has asked any insured by the two companies with a complaint against them to file it with the consumer protection department at www.SAMA.GOV.SA or to call the toll free number 800125666.  

 

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