RIYADH – The Company for Cooperative Insurance (Tawuniya) has entered into a contract with Saudi Arabian Airlines (SAUDIA) to provide insurance coverage for its aircraft fleet and its affiliated airlines.
According to the contract, Tawuniya will provide insurance coverage for the Saudia Airlines aircraft against aviation accidents and public liability due to third parties’ injuries, death, and property damage as well as covering war risk.
Furthermore, Tawuniya had successfully signed a contract with Flynas to provide insurance coverage for its aircraft. The company also provides property insurance to local and international airports of the General Authority of the Civil Aviation (GACA). By these contracts, Tawuniya acquired insurance contracts of the commercial airlines and civil aviation in Saudi Arabia.
On this occasion, Tawuniya’s Senior Vice President for Sales and Marketing Adel Al-Hamoudi expressed his pleasure in Saudia confidence, which emphasized a distinguished partnership between both companies. This partnership led to the signing of the largest aviation insurance contract in the Kingdom and will enhance the growth of Tawuniya’s aviation insurance portfolio.
Al-Hamoudi noted that this insurance contract provides full protection for all of Saudia aircraft, in partnership with major global reinsurers who will provide an integrated reinsurance program for this type of risk.
Al-Hamoudi also praised the wide scope of cooperation with Saudia that includes one of the largest medical insurance contracts to provide health care to Saudia employees and their family members. — SG
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