Regulatory Alerts2016-02-03 | No. 19/2016Capital Market Authority Decision No. 19/2016 on the Standard Vehicle Insurance Policy Form
The Capital Market Authority of Oman issued Decision No. 19/2016 to mandate a standardized vehicle insurance policy form, effectively abrogating the prior 2008 regulation. This framework defines comprehensive coverage parameters, establishes tiered deductibles based on driver age and authorization status, and sets clear liability limits for third-party damages, repairs, and medical treatment. It standardizes claims settlement procedures, integrates optional additional privileges into the base policy table, and takes effect thirty days after official publication.
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