SR 400,000 Penalty or 5 Years Jail for Insurance Fraud

Media and assurance Awareness Committee of Saudi Arabia has launched a campaign to increase awareness in public about Insurance penalties for tampering vehicles or health insurance documents and claiming fraud Insurance.

This step was taken in with local Insurance companies to make sure that people in Saudi are aware of Penalties and Fines related to Insurance Fraud.

It said that a Fine of SR 400,000 Penalty or 5 Years Jail could be a result of Insurance Fraud.

Vehicle Insurance Fraud Penalty

The committee urged the general public to purchase insurance certificates from registered Saudi insurance companies or their authorised agents.

As per the Media and assurance Awareness Committee there shouldn’t be any modification to the information furnished in the Insurance certificate. Any such modifications will be considered as forgery punishable under the Saudi Law.

Article (13) of the Anti-Forgery Law stipulates that whoever forges commercial, financial or bank documents or insurance certificates shall be sentenced to 1 to 5 years in prison and a fine of SR 400,000.

So, please be aware of Insurance Fraud Penalty and Fines before modifying any such documents.