Saudi insurers surge as vehicle checks enforced – ZAWYA

Saudi insurers surge as vehicle checks enforced – ZAWYA

Saudi insurers surge as vehicle checks enforced | ZAWYA MENA Edition HomeBusinessFinancial ServicesArticleSaudi insurers surge as vehicle checks enforced The move sent the share prices of several insurers soaring as investors bet they would benefit, as more people would subsequently be forced to buy policies    Image used for illustrative purpose. Cars are parked along Al Olaya street, one of the most busy streets in Riyadh on December 7, 2015 in Riyadh , Saudi Arabia. RIYADH: Saudi insurance stocks surged on Wednesday after the traffic department said that it would enforce vehicle checks to ensure drivers had appropriate cover.The move sent the share prices of several insurers soaring as investors bet they would benefit, as more people would subsequently be forced to buy policies.Under the current rules, if a vehicle is involved in any traffic violation in the Kingdom, its record is automatically checked to see if there is an insurance policy linked to it.The move sent the share prices of several insurers soaring as investors bet they would benefit, as more people would subsequently be forced to buy policies.RIYADH: Saudi insurance stocks surged on Wednesday after the traffic department said that it would enforce vehicle checks to ensure drivers