The Capital Market Authority (CMA), which regulates the insurance industry in the Sultanate, has reported a 121 per cent surge in the number of insurance claims arising out of traffic accidents recorded during Q2 2021 versus figures for the previous quarter.

As many as 15,200 traffic accidents were reported in the second quarter, comprising around 3,000 major mishaps and 12,200 minor ones. This represented a 119 per cent jump over corresponding figures for Q1 2021. Insurance claims raised in Q2 totalled 24,900, representing a 121 per cent increase over Q1.

Compensation paid out totaled RO 5.19 million, representing a 189 per cent increase over Q2 2020, while total claims (paid claims and unsettled claims) reached RO 23.31 million, representing an increase of 77 per cent versus figures for Q2 2020.

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