Alinma Tokio says client claims SAR 287 mln for COVID-19 losses, files lawsuit

Logo of Alinma Tokio Marine Co.

Alinma Tokio Marine Co. said that a client company brought a case against the insurer demanding compensations due to damages caused by COVID-19, according to a bourse statement.

The client company was insured by Alinma Tokio against all property risks, for the period from 2020 to 2021 with a total amount of SAR 386 million.

The plaintiff claimed compensation and recovery for the damage sustained, in accordance with the policy issued, for SAR 287 million, the insurer added in a bourse statement.

The company is reviewing the case in light of the documents submitted by the first party and, accordingly, the legal department will study the case and prepare proper response.

It is too early to determine consequences and legal risks of the case, the statement said. Any developments will be disclosed in due course.