Commercial Maritime Law
Art. 354Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
With respect to liability insurance, the insurer shall not be obligated to pay
compensation in the event the accident provided in the insurance policy occurs,
unless the third party sustaining damage seeks an amicable settlement or files
a lawsuit against the insured. The compensation reimbursed by the insurer shall
be limited to the damage for which the insured is liable.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
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