Posted by : Aahil Shaik Feb 20, 2019
INSURANCE FRAUDS WILL LEAD YOU IN A JAIL FOR 5 YEARS ALONG WITH A FINE OF 400,000 SR
Insurance frauds will now lead you in jail along with a fine of 400,000 Saudi Riyals, Whether it is a vehicle insurance or health insurance, violators to face 5 years jail term. Trending : New amendments in Saudi Labor Law
As per the new penalties, lawbreakers caught in breach of the rules and regulations may face a fine of 400,000 Saudi Riyals fine. Recommend : Check health insurance validity of Saudi visit visa
The Media and Insurance Awareness Committee revealed the penalties as it launched a campaign in collaboration with Saudi insurance companies to increase the public awareness about the new penalties and fines.
- The Saudi Media and Insurance Awareness Committee introduced the general public to purchase insurance certificates only from registered Saudi insurance companies or its authorized agents. See Also : Saudi Employers must provide health insurance to employees and families
- According to the Article (13) of the Anti Forgery Law, Those who falsifies commercial, financial or bank documents or insurance certificates shall be sentenced from 1 to 5 years jail with a penalty of 400,000 SR.