CMA symposium calls for a national common manual to determine disability rates in medical reports

Muscat: The Capital Market Authority (CMA) convened on Wednesday its second Insurance Issues Symposium.

The participants in the symposium stressed the significance of endorsement of a national common manual to determine disability rates in medical reports.

The participants also stressed the significance of availability of departments concerned with insurance issues at the courts.

These affirmations come within the endeavours of the parties taking part in the organisation of the symposium for provision of appropriate solutions for the key issues related to insurance sector and for facilitation of the litigation procedures and for achievement of justice and protection of insurance policyholders.

The symposium was organised under the patronage of Issa bin Hamad Al Azri, Secretary General of the Supreme Judicial Council.

Abdullah bin Salim Al Salmi, Executive President of the Capital Market Authority said that the Capital Market Authority is keen for the participation of the parties concerned with all the issues and challenges associated with this symposium.

He said that the Capital Market Authority has adopted a balanced method in terms of pricing and for giving the insurance companies flexibility in pricing for offering appropriate services to policyholders.

Ahmed bin Ali Al Maamari, Executive Vice President of the Capital Market Authority said that the symposium aimed to boost consultation and cooperation with the related parties for the interest of the public and for development of solutions for insurance issues with the participation of the Supreme Judicial Court.

The Insurance Issues Symposium included a working paper on the insurance issues between the general courts and the competent courts and discussed the impacts of courts judgments on insurance sector and another working paper on courts judgments in insurance; the impacts and challenges among others.