Dear CEO,

Dear CCO,

Greetings,

In reference to the Saudi Central Bank's "SAMA" Circular No. (93) dated 11/19/1437 AH, regarding uploading Motor Insurance policies to Najm Net system "the System”, and in reference to what was noticed regarding the delays of uploading Motor Policies to the System; the following must be adhere:

1. All insurance companies must directly and immediately upload all Motor Insurance policies of all types (Corporate/individuals) on the System, so the uploading procedure synchronized with the policy holder’s completion of purchasing the Insurance Policy. If the System rejects the Policy, the Insurance Company must correct the data and re-upload the Policy immediately in the System.
2. Najm for Insurance Services "Najm" must directly and immediately upload all Motor Insurance policies of all types (Corporate/individuals) on the System of the entity electronically linked and authorized by the Ministry of Interior upon receiving from the insurance companies. If the authorized System rejects the Policy, Najm must correct the data and re-upload the Policy immediately in the System.
3. Najm shall provide SAMA with a monthly report on the degree of its and the insurance companies compliance with uploading data of Motor Insurance Policies as per Articles No. (1 and 2) mentioned above, unless otherwise issued by SAMA.

To be informed and complied with.

Kind Regards,

General Department of Insurance Control

Scope:

-Insurance Companies.

-Najm for Insurance Services.