Malath expects positive impact on sales on compulsory motor insurance

Malath Cooperative Insurance Co. said in a bourse statement that it expects the General Department of Traffic’s decision about compulsory motor insurance to have a positive financial impact on the sales of vehicle insurance policies.

However, it is difficult to accurately determine the financial impact on the insurer's operations at present, the statement added.

The insurer's e-facilities including its website, e-application and self-service apps, are available round the clock, which will boost its gross written premiums (GWPs) and helps improve the quality of services.

Saudi Arabia’s General Department of Traffic on Tuesday called on all vehicle owners to have valid vehicle insurance before the resumption of the automatic issuance of traffic violations from July 22.