Oman's Capital Market Authority has issued a circular directing insurance companies to take specific measures to facilitate and expedite the settlement of claims for those affected by cyclone Shaheen.
The authority says the measures are that the duration of the process for monetary compensation is 14 days from the date of the inspection and assessment of the damage. The CMA also says that it is not required to provide a report from the Royal Oman Police to make the claim. It is also not mandatory to pay the insurance deductible for insured vehicles and homes when submitting the application, it will be deducted later from the compensation value. The CMA asks companies to strengthen the company with additional staff in the affected wilayats to assess damages and settle claims. The orders to start repair operations will be within 7 days from the date of the inspection. The companies should open offices in the wilayats and harness modern technology to receive claims.