Vote for song
Merge 104.8 | 19 May 2020
Insurance companies in the Sultanate have recorded 23,800 traffic accidents from the beginning of January to the end of March 2020, Oman’s Capital Markets Authority (CMA) has revealed today [Tuesday, May 19].
Cover image for illustrative purposes only. Source: Shutterstock
As Oman News Agency (ONA) reports: “Unaudited quarterly statements of the insurance sector for the first quarter of 2020 showed that the total number of traffic accidents was 23,800, including 4,100 major accidents and about 19,700 minor accidents.
The data showed that the claims for minor accidents grew by 9 per cent in 2020 compared to the same period in 2019, at more than 20,400 minor accidents. The number of claims for major accidents grew by 11 per cent to 4,224 accidents.
The data also recorded an increase in the number of traffic accident claims that resulted in damage, in addition to treatment expenses for physical injuries, by 12 per cent compared to the same period in 2019. The number of claims for deaths increased by 6 per cent to 145 traffic accidents.
Compensations paid by insurance companies for financial damages resulted from minor traffic accidents decreased by 26 per cent to RO 4.7 million, while there was a considerable increase in the claims for major traffic accidents by more than 300 per cent at RO 2.45 million.
As to compensations related to major traffic accidents which recorded financial damages, in addition to treatment expenses, there was a 6 per cent increase by RO 1.3 million. Additionally, the volume of compensations paid as Diya (Blood money) for deaths from traffic accidents decreased by 19 per cent compared to the same period in the past year at RO 285,000, as per the unaudited initial results of the first quarter of 2020.”
As per ONA, “the CMA emphasizes that compliance with safety requirements on the roads and abiding by traffic rules issued by the ROP is the best way to avoid major traffic accidents and loss of properties and lives, and that insurance services would only mitigate financial damages, not the moral damage.”
Source: ONA
(Also read: Oman: 12 companies agree to retain national workforce, 3 to face legal action, says MoM.)
