Oman RE Introduces GCC’s First Motor Catastrophe Cover

Oman Reinsurance Company SAOG (Oman Re) has reaffirmed its leadership role in strengthening the resilience and sustainability of Oman’s insurance sector, following the Sultanate’s landmark introduction of natural catastrophe coverage within third-party motor insurance policies – the first such initiative in the Gulf Cooperation Council (GCC) region.

This pioneering scheme reflects Oman’s forward-looking regulatory framework and proactive response to climate-related risks, particularly in the aftermath of a series of floods and cyclones, which highlighted the vulnerability of individuals and businesses to natural catastrophes.