MUSCAT: There is no increase in the prices of comprehensive or third party vehicle insurance, Oman’s Capital Market Authority (CMA) has confirmed on Thursday.
In a statement issued, CMA denied rumours that have been circulated in social media regarding the increase in the price of vehicle insurance.
“The Capital Market Authority denies what has been circulated through social networks about the increase in the prices of comprehensive or third-party vehicle insurance. It confirms the notice issued by the Oman Insurance Association, which denies this matter, ” CMA said.
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According to CMA the vehicle insurance prices are subject to the “follow-up and review of the authority and it coordinates continuously with insurance companies in order to ensure the provision of the best prices and services to serve all customers.”
CMA said it did not receive any notification from insurance companies requesting a change in prices of comprehensive or third-party vehicle insurance.
