The Saudi Arabia Insurance Authority transferred leadership of the Inherent Defects Insurance pool from Malath Cooperative Insurance Company to Tawuniya Insurance Company for a three-year term beginning June 24, 2025. The pool comprises 17 insurance companies. Inherent Defects Insurance is mandatory for residential and commercial buildings and is required to obtain a building permit. It protects property owners and end-users against structural defects that are not immediately visible and typically emerge after construction is completed.
2025-06-24Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority transfers inherent defects insurance pool leadership to Tawuniya for three years
The Saudi Arabia Insurance Authority transferred leadership of the Inherent Defects Insurance pool from Malath to Tawuniya for three years from June 24, 2025. The mandatory product, supported by 17 insurers, covers latent structural defects in residential and commercial buildings.