55% of KSA vehicles are uninsured

Updated 25 January 2016

55% of KSA vehicles are uninsured

JEDDAH: An official at Najm Insurance Services has told local media that the database at his company shows that 60 to 65 percent of the traffic accidents in the Kingdom happen in major cities.
The insurance company specializes in minor accidents dealing with values of less than SR5,000, which make up 70 percent of the total number of traffic accidents in the Kingdom.
The insurance company offers services for applicants regarding traffic accidents that occur in remote cities where there are no such insurance companies. To make use of this innovative service, applicants can send their applications electronically to avoid having to travel long distances.
He said that the total number of the new insurance claim applications is estimated at 400,000 to 500,000 documents each month. He also noted that the available statistics indicate that 55 percent of the vehicles in the Kingdom are not insured, with the proportion of insured vehicles standing at just 45 percent.
He demanded a reconsideration of the applicable insurance mechanism to help increase the proportion of insured cars to 100 percent.


Gasem Al-Maimani, deputy governor at the Saudi General Authority for Military Industries

Updated 34 min 40 sec ago

Gasem Al-Maimani, deputy governor at the Saudi General Authority for Military Industries

Gasem Al-Maimani has been the deputy governor for industry development at the General Authority for Military Industries (GAMI) since July 2019.

Al-Maimani gained a bachelor’s degree with honors in mechanical engineering from Dhahran’s King Fahd University of Petroleum and Minerals, in 1989.

After his graduation, he joined Yanbu Petrochemical Co. where he worked for four years as a project manager. In April 1993, he was promoted to a packaging superintendent and continued in the role until January 2000, when he was appointed as acting manager of the company’s polymers reaction unit.

Four years later, he moved to Riyadh to join Saudi diversified manufacturing company SABIC as general manager of its polymers strategic business unit. Al-Maimani, who has held various top managerial positions, remained in his post for nearly eight years before becoming vice president for the Saudi National Industrial Cluster Development Program, a government-initiated scheme aimed at developing and supporting new industries.

In February 2012, Al-Maimani was selected as the Kingdom’s deputy minister of commerce and investment. After 16 months, he moved to the Qatrana Cement Co. and was its chairman for nearly five years.

In 2018, he became CEO of Taiba Investments, and was then appointed as GAMI’s deputy governor.

Recently, GAMI confirmed that the Kingdom would increase its support for scientific research from its military budget to 4 percent over the next 10 years. Al-Maimani said that there were currently 30 military factories in Saudi Arabia, but he predicted that the number would increase over the next decade with 50 percent of the country’s military industries becoming nationalized.