55% of KSA vehicles are uninsured
In this September 22, 2013 file photo shows vehicles stopping at a traffic light in Riyadh.
An official at Najm Insurance Services has told local media that the database at his company shows that 60 to 65 percent of the traffic accidents in the Kingdom happen in major cities.
The insurance company specializes in minor accidents dealing with values of less than SR5,000, which make up 70 percent of the total number of traffic accidents in the Kingdom.
The insurance company offers services for applicants regarding traffic accidents that occur in remote cities where there are no such insurance companies. To make use of this innovative service, applicants can send their applications electronically to avoid having to travel long distances.
He said that the total number of the new insurance claim applications is estimated at 400,000 to 500,000 documents each month. He also noted that the available statistics indicate that 55 percent of the vehicles in the Kingdom are not insured, with the proportion of insured vehicles standing at just 45 percent.
He demanded a reconsideration of the applicable insurance mechanism to help increase the proportion of insured cars to 100 percent.
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