Article Forty-Six
No: 596/1 |
The Company shall adhere to principles set forth in this article when pricing insurance policies:
1. | Pricing shall be fair, reasonable and adequate; | |
2. | Pricing shall be set in accordance with the Company’s underwriting guidelines with adequacy and appropriateness to the risks undertaken by the Company, and in accordance with appropriate technical reserves. | |
3. | Providing SAMA with justifications and basis used in setting prices. These prices shall not be relied upon other Company’s pricing. |