“The Motor Claims Management Center located on Exit 10 of Eastern Ring Road in Riyadh has been directed to open its doors to receive claims with respect to the accidents caused by the rains and to prepare all facilities to receive and settle such claims as quickly as possible,” said Ahmed Abdul Aziz Al-Shalan, Tawuniya vice president for marketing and sales.
The company has deployed surveyors and loss adjusters into the city to conduct inspections and evaluate the size of the damage sustained by insured clients. The company is also dealing with property claims.
"Compensation will be paid to policyholders of property and engineering projects having valid licenses," said Al-Shalan.
But, the insurance executive pointed out that "many" projects allowed their policies to lapse.
"It is expected that many contractors having projects under construction will not be compensated as their policies have expired,” Al-Shalan said, adding that the lack of commitment on the part of project contractors to obtain insurance policies or extend coverage for the entire duration of their projects could jeopardize the interests of developers.
Tawuniya has paid out an estimated SR40 million in motor vehicle and property claims from the Nov. 25 Jeddah floods.
