Approval of the Standard Form for Professional Liability Insurance Policy for Saudi Building Code Inspection Entities
اعتماد الصيغة النموذجية لوثيقة تأمين المسؤولية المهنية لجهات تفتيش أعمال كود البناء السعودي
The Insurance Authority has approved the standard form for the professional liability insurance policy for Saudi Building Code inspection entities, developed in coordination with the Saudi Standards, Metrology and Quality Organization. The standard form sets the minimum coverages and exclusions that may not be reduced by agreement, and specifies the conditions for the start and end of coverage as well as the application of retroactive coverage. It also grants the policyholder the option to extend the claims reporting period as an additional benefit that the insurer is obligated to offer.
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