IA issues draft amendments to comprehensive insurance regulations for individuals' leased vehicles

21/04/2025 Argaam
Logo ofInsurance Authority

Logo of Insurance Authority

The Insurance Authority (IA) announced issuing draft amendments to the regulations governing comprehensive insurance for vehicles leased to individuals through financing.

 

The amendments are now open for public consultation via the “Istitlaa” platform until May 5, 2025.

 

These amendments aim to protect the rights of policyholders and expand insurance coverage of the vehicle’s driver, including close relatives, sponsored individuals, or employees.

 

The vehicle lessor shall obtain insurance quotes from at least three companies.

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