Saudi Arabia to speed up insurance claims processing

Saudi Arabia’s Insurance Authority (IA) has submitted a draft amendment aimed at shortening the processing time for individual insurance claims, from the current 15 days to just 5 days.

The proposal also allows certain insurance products to be exempted from these time limits when required by public interest or by the nature of the product itself.

This initiative is designed to accelerate claims handling and settlement, thereby improving efficiency and overall performance across the insurance sector.