The fund, called Dhaman, was unveiled on Monday by the Council of Health Insurance (CCHA) in coordination with the Saudi Central Bank.
The size of the fund will be reviewed periodically to meet the demand, Ahmad Abuemara, spokesperson for the CCHA told CNBC Arabia.
“In the first stage, the fund's coverage will be dedicated for emergency cases, with a maximum of SR500,000 per case,” he added.
Dhaman will ensure the protection of insurance companies and enable claiments to receive treatment without interruption.
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