Menu
Search
samaSaudi Central BankNewsSAMA Requires that Motor Insurance Claims and Customer Service Departments in Insurance Companies and Insurance Services Providers be Staffed by Saudi Citizens by 2/7/2017 (8/10/1438H)
News
الاخبار
SAMA Requires that Motor Insurance Claims and Customer Service Departments in Insurance Companies and Insurance Services Providers be Staffed by Saudi Citizens by 2/7/2017 (8/10/1438H)
2/8/2017 12:00 AM

SAMA reiterated its standing policy to ensure that all jobs in insurance companies and in insurance services providers are filled with Saudi citizens and urged the companies to redouble their efforts to achieve the Saudization targets, in compliance with Article 79 of the Implementing Regulations of the Cooperative Insurance Companies Control Law and with SAMA's previous instructions in this regard.

In line with this standing policy, on Wednesday, 11/05/1438H (08/02/2017), SAMA issued a circular requiring insurance companies and insurance service providers to staff with Saudi citizens all jobs in their motor insurance claims departments, including all employees in claims receiving branches and centers, all loss adjusters, all the employees working on the management of salvage and all employees working on collections and recoveries. Companies are also required to staff with Saudi citizens all jobs in their customer service departments and all jobs in their customer complaints resolution functions for all lines of  their insurance business. The full Saudization requirement is applicable to all types, grades and levels of the aforementioned jobs and also applies to such jobs that are fully or partially outsourced.

Pursuant to this circular, insurance companies and insurance services providers are required to provide SAMA with monthly reports of all actions taken and progress made in job nationalization. Companies are required to achieve a 100 percent nationalization ratio for the jobs set forth in the circular by no later than 2/7/2017 (8/10/1438H).

SAMA stressed that it is the responsibility of insurance companies and insurance services providers to provide their Saudi employees in all departments and for all lines of insurance with the necessary training and development. Companies also must stand ready and be prepared to comply with the further instructions that SAMA will be issuing in this regard, instructions that will require companies to increase the ratios of Saudi citizens employed in all jobs, particularly the technical and the leadership ones.

SAMA emphasized that it will take the appropriate actions against insurance companies and insurance services providers that fail to comply with the above requirements.

Enterprise Keywords