The names of 18 insurance companies which have closed down without fulfilling their obligations to their customers have been passed on to authorities. “We have taken this action to force the owners of the companies to repay their customers,” said an official at the General Secretariat for the Settlement of Insurance Cases, the body responsible for drawing up the list. Abdullah Al-Sahybani, secretary general of the Settlement Committee in the Eastern Province, said the companies owed customers more than SR250 million. “The committee is in the process of questioning some of the companies to help them reach settlements with their customers,” Al-Sahybani said. The Secretariat has committees in Riyadh, Jeddah and Dammam appointed by the Cabinet and authorized to look into all kinds of insurance
