Thursday 03 / October / 2024
Muscat: The insurance indices of 2022, issued by the Capital Market Authority (CMA) in the Sultanate of Oman, showed that the number of accidents reached nearly 76,200 accidents, 15,300 of which are major accidents and 60,900 are minor, an increase of 15.5 per cent compared to the previous year, 2021, where the number of accidents was 65,900 accidents.
Contrary to expectations, there was a fall in the indices for total paid compensations, which exceeded OMR24.6 million, a decrease of 12.6 per cent. Additionally, a decrease of 1.7 per cent was also seen in the total of compensations (both paid and not yet settled claims) that reached OMR84.7 million, in contrast to OMR84.7 million in 2021.
The indices for traffic accident claims recorded by insurance accidents indicate that the number of claims for minor accidents with damages only rose relatively to 64,400; compared to last year when they were 62,000 accidents. In contrast, a decrease was seen in paid compensations for damages from OMR13.4 million in 2021 to OMR12 million only in 2022.
Additionally, while claims for major accidents with damages decreased, major accidents that caused bodily injuries and medical treatment costs rose to OMR12,400 and OMR12,600 compared to OMR14,600 and OMR12,100, respectively.
There was a fall in the paid compensations for such claims, as the total of major accidents compensations with damages decreased from OMR9.2 million in 2021 and OMR8.5 million in 2022. Paid compensations for major accidents that resulted in bodily injuries and medical treatment costs fell from OMR4.5 million last year to OMR4 million.
As for the number of major accident claims that resulted in deaths, they also declined as they were 327 claims which caused a decline in paid compensations as well at only OMR45,000 compared to last year where the number of major accidents claims resulted in 444 claims with total compensations of OMR1.4 million.
