Creation of a mandatory travel insurance pool in Saudi Arabia

The Saudi Arabian Central Bank (SAMA) has approved the creation of a pool dedicated to compulsory travel insurance. The policy includes Covid-19 risk coverage. The establishment of the pool follows the lifting of the travel ban on 17 May 2021.

Twelve Saudi insurers are participating in the creation of the pool which operates on a co-insurance basis: Tawuniya, Allianz Saudi Fransi Cooperative Insurance, Alamia, MedGulf, Gulf General, Walaa, Al-Rajhi, Malath, Al-Etihad, Burouj, AXA and Al-Saqr.