FSA mandates minimum EV insurance coverage by end-2026 National

FSA mandates minimum EV insurance coverage by end-2026

Muscat: The Financial Services Authority (FSA) has issued a circular requiring all insurance companies licenced to provide motor insurance in Oman to maintain a minimum level of electric vehicle (EV) insurance underwriting relative to the size of their motor insurance portfolios. Under the circular, insurers must ensure that EV insurance policies account for no less […]

Insurers in Oman ordered to allocate minimum share for EV coverage Business

Insurers in Oman ordered to allocate minimum share for EV coverage

Muscat: The Financial Services Authority (FSA) has issued a new circular requiring all insurance companies licensed to provide motor insurance in Oman to maintain a minimum level of underwriting for electric vehicles (EVs), as part of efforts to support the country’s transition towards clean energy and evolving automotive trends. Under the circular, insurers must ensure […]