The Oman Financial Services Authority has made amendments to the unified motor insurance policy wording effective from 19 February, adding automatic cover for material damage from natural disasters and weather-related events across all motor insurance policies, including mandatory third-party policies. The move follows a one-month grace period for insurers to complete technical and operational readiness. Revised requirements set mandatory timelines for claims settlement and introduce compensation for delays in vehicle repairs beyond the specified timeframe, with detailed rules to be issued later by the FSA. The wording also allows cash compensation under set controls, calculated using the lowest repair quotation from approved workshops and paid in two stages, and expands the list of covered new spare parts to 37 items.
Oman Financial Services Authority 2026-02-19
Oman Financial Services Authority makes unified motor insurance wording amendments effective with automatic natural disaster cover and new claims timelines
The Oman Financial Services Authority has amended the unified motor insurance policy to include automatic cover for material damage from natural disasters and weather-related events, effective 19 February. New requirements mandate timelines for claims settlement and introduce compensation for repair delays, with detailed rules forthcoming. The policy also permits cash compensation under specific controls and expands the list of covered spare parts to 37 items.