Extract of Motor Insurance as provided by the Saudi Indian Company for co-operative Insurance.
Saudi Indian Company for Co-operative Insurance (SICCI) is a joint stock company established in the Kingdom of Saudi Arabia as per Royal Decree No. M60 dated 18/09/1427H. SICCI is a joint venture between Fawaz Al Hokair Group of Companies, KSA, Life Insurance Corporation of India, The New India Assurance Company Limited, India and Life Insurance Corporation (International) B.S.C.(c), Bahrain.
Saudi Indian Company for Co-operative Insurance (SICCI) is a joint stock company established in the Kingdom of Saudi Arabia as per Royal Decree No. M60 dated 18/09/1427H. SICCI is a joint venture between Fawaz Al Hokair Group of Companies, KSA, Life Insurance Corporation of India, The New India Assurance Company Limited, India and Life Insurance Corporation (International) B.S.C.(c), Bahrain.
New
India Assurance Company Limited is one of the oldest and Largest Companies
operating in India.
They provide Motor Insurance/Car Insurance in Saudi Arabia and their Policy policy provides cover to the owner of an insured vehicle against legal liability to third parties in respect of accidents caused by or arising out of the use of Insured's Motor Vehicle. The Policy covers the following
They provide Motor Insurance/Car Insurance in Saudi Arabia and their Policy policy provides cover to the owner of an insured vehicle against legal liability to third parties in respect of accidents caused by or arising out of the use of Insured's Motor Vehicle. The Policy covers the following
- Limit of cover as per policy schedule subject to a maximum of:
Third Party
Property Damage SR. 5 Million
peroccurrence and in aggregare
- In the event of death of insured Vehicle's driver in the accident, the policy will pay the legal liability incurred due to the accident.
Requirement of Driving License:
Effective
driving license of the driver is a must for the relevant class of the vehicle
for the admissibility of the claim
Exclusions:
1.
Death of or bodily injury to the
driver himself
2. Loss or 'own' damage to the insured Vehicle itself
3. Liability incurred whilst the vehicle is used for rallies or speed testing
4. Liability incurred while insured/authorized driver is driving under the influence of intoxicants or drugs
5. Liability incurred while insured/authorized driver is driving any class/type of vehicle other than as --------authorized in driving license.
2. Loss or 'own' damage to the insured Vehicle itself
3. Liability incurred whilst the vehicle is used for rallies or speed testing
4. Liability incurred while insured/authorized driver is driving under the influence of intoxicants or drugs
5. Liability incurred while insured/authorized driver is driving any class/type of vehicle other than as --------authorized in driving license.
6. Liability occurring due to
violation of Traffic Law
7. Geographic limit: Kingdom of Saudi Arabia
The Motor Insurance policy issued in Saudi Arabia is reasonably good compared to the products available in the Market. The minimum coverage is as per the requirements of Saudi Arabian Monetary Agency.
7. Geographic limit: Kingdom of Saudi Arabia
The Motor Insurance policy issued in Saudi Arabia is reasonably good compared to the products available in the Market. The minimum coverage is as per the requirements of Saudi Arabian Monetary Agency.
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