The Company for Cooperative Insurance (Tawuniya) has entered into a contract with Saudi Arabian Airlines to provide insurance coverage for its aircraft fleet and its affiliated airlines. According to the contract, Tawuniya will provide insurance coverage for the Saudia fleet against aviation accidents and public liability due to third parties’ injuries, death, and property damage as well as war risk.
Tawuniya also signed a contract with Flynas to provide insurance coverage for its aircraft. The company also provides property insurance to local and international airports of the General Authority of Civil Aviation (GACA).
Tawuniya Senior Vice President for Sales and Marketing Adel Al-Hamoudi underlined the “distinguished partnership between both companies.”
“This partnership led to the signing of the largest aviation insurance contract in the Kingdom and will enhance the growth of Tawuniya’s aviation insurance portfolio,” he said.
Al-Hamoudi noted that the insurance contract provides full protection for all Saudia aircraft in partnership with major global reinsurers who will provide an integrated reinsurance program for this type of risk.
Al-Hamoudi also highlighted the wide scope of cooperation with Saudia that includes one of the largest medical insurance contracts to provide health care for Saudia employees and their family members.
