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Sama unveils the first insurance product to cover the dangers of drones in Saudi Arabia

The Saudi Arabian Monetary Agency "SAMA" revealed, through its official account on the social network site "Twitter", the first insurance product to cover the dangers of "drones".

In detail, SAMA announced its approval and approval of the launch of the first insurance product to cover the dangers of drones in the Saudi insurance market.

Sama explained that this product covers "drones" licensed by official authorities for use in aerial surveys and geographic information systems for architectural and engineering activities and related consulting services, or used in inspections of communication towers, power lines , industrial facilities and renewable energy for technical testing and analysis purposes. Or it is used for aerial photography purposes in authorized places.

This step is a continuation of the work of the Monetary Agency "SAMA" to develop the insurance sector through the diversity of insurance products and their provision according to the needs of the Saudi market and the clients of insurance companies, and to keep up with developments in all fields to support transaction stability, preserve civil rights and diversity of risk management tools, as follows: This is in line with the Kingdom Vision 2030 .

Sama had previously announced an increase in the value of point-of-sale sales in the Kingdom during the week ending August 15, 2020, by 12%, to reach around 6.74 billion riyals, compared with 6.44 billion riyals during the previous week.

According to the weekly "Point of Sale Operations" report issued by the Saudi Arabian Monetary Agency "SAMA", most of the sectors experienced an increase in sales through the points of sale during the week ending 15 August, led by the "Education" sector by 440%, followed by the "Transportation" sector. Approximately 37%, then the "construction and construction materials" sector by approximately 32%, and the number of operations executed reaches 61.1 million.

The "hotels" sector was the lowest in sales through points of sale, by more than 6%, followed by the "restaurants and cafes" sector at 3%. Consumer spending during the period was focused on the "food and beverage" sector, at approximately R1.1 billion, followed by the "restaurants and cafes" sector, at approximately R900 million, and the " health ", at 637.3 million riyals.