SAMA approves new insurance cover for live event cancelations

16/09/2020 Argaam

The Saudi Arabian Monetary Authority (SAMA) approved the launch of a number of insurance products to cover cancelations of live events.

 

The new products are planned in coordination with the General Entertainment Authority (GEA) in light of the expected growth in the number of live and entertainment events across the Kingdom.

 

The insurance coverage includes event cancelations by official authorities; or suspension, postponement or venue changes due to reasons out of organizing entity’s control.

 

The move came as part of SAMA’s efforts to develop the insurance market and provide diversified products that cater to the Saudi market and clients’ needs.

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