Unaudited quarterly statements of the insurance sector for the first quarter of 2020 shows that the total number of traffic accidents was 23,800 accidents including 4,100 major accidents and about 19,700 minor accidents.
The data shows that the claims for minor accidents grew by 9% in 2020 compared to the same period in 2019 at more than 20,400 minor accidents. The number of claims for major accidents grew by 11% to 4224 accidents.
The data recorded an increase in the number of traffic accidents claims resulted in damage in addition to treatment expenses for bodily injuries by 12% compared to the same period in the past year. The number of claims for deaths increased by 6% to 145 traffic accidents.
Compensations paid by insurance companies for financial damage resulted from minor traffic accidents decreased by 26% to RO 4.7 million and considerable increase in the claims for major traffic accidents by more than 300% at RO 2.45 million. As to compensations related to major traffic accidents which recorded financial damage in addition to treatment expenses increased by 6% at RO 1.3 million and the volume of compensations paid as Diya (Blood money) for deaths from traffic accidents decreased by 19% compared to the same period in the past year at RO 285,00 as per the unaudited initial results of the first quarter of 2020.
CMA emphasizes that compliance with safety requirements on the roads and abiding by traffic rules issued by ROP is the best way to avoid major traffic accidents and loss of properties and lives and that the insurance service would only mitigate the financial damage not the moral damage.
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