New motor insurance service in Oman

The Capital Market Authority (CMA) is launching an e-service to determine the value of a vehicle in a total loss, i.e. reduced to a wreck.

The service now available to the stakeholders of the Omani insurance market, speeds up the claim settlement process.

Motor insurance is the second biggest class of business in the Sultanate with 26.7% of underwritten premiums which in 2019 amounted to 129.8 million OMR (336 million USD) for 95.5 million OMR (247 million USD) of incurred losses.