RIYADH, 22 November 2007 — The Saudi Electricity Company (SEC) has signed a three-year medical insurance contract with Tawuniya involving a total premium of SR56 million, or about SR19 million annually.
The contract, considered to be one of the largest medical insurance policies issued by Tawuniya during this year, calls for providing healthcare services to SEC’s non-Saudi employees and their eligible family members, Saleh Al-Subail, Tawuniya, vice-president for key accounts, told Arab News yesterday.
This initiative on the part of SEC is in line with the Compulsory Cooperative Health Insurance Act.
The first phase of this program began in June last year.
It covers the non-Saudi workforce of Saudi firms with more than 500 foreign employees or more.
Al-Subail said the contract, which became effective on Nov. 20, would expire on Nov. 19, 2010. The maximum benefit permissible per head per policy year is SR250,000.
The insurance cover includes all sites and offices of the company across the Kingdom.
The healthcare services will be provided by more than 250 hospitals and medical centers scattered in various regions of the Kingdom with which Tawuniya has health services provision contract.
Tawuniya has developed, in collaboration with the SEC, a suitable mechanism for the enhancement of health services that seek to reduce the time limit required for processing medical approvals for some services through the use of Waseel electronic link, he added.
“We are proud of the services provided by Tawuniya to SEC, one of the leading national companies,” he said, noting that the insurance contract concluded by both parties is a valuable addition to the deep-rooted relations between Tawuniya and the SEC.
Tawuniya’s health insurance premiums have realized a substantial increase and, as expected, they will continue their rise during year 2007 at a steady rate with the application of the three phases of Compulsory Cooperative Health Insurance Act.
