The Number of the Insured Increases by 23% Until Mid-2023 Compared to the Same Period Last Year

Health Insurance Products are witnessing an increasing turnout during 2023 as the number of the insured reach 555,000 person, an increase by 23% compared to the same period last year.  This reflects individuals’ interest to get health insurance coverage as a means to enhance healthcare of citizens and residents in the Sultanate of Oman and to utilize the treatment options offered by private health institutions to deal with illness and sudden injuries.  This also reflects the institutions’ efforts to add a competitive value for employees through offering health insurance.  The last is important to ensuring wellbeing of employees and developing a sense of belonging to the institution.

The Capital Market Authority (CMA) endeavors to translate the meaning of inclusive insurance through issuing unified health insurance policies like the unified health insurance policy that includes several annexes targeting specific categories of the public.  This has contributed to enhancing turnout for such insurance products.  There is a unified health insurance policy for employees of the private sector (Omanis and expatriates) in addition to a specific coverage for Domestic workers.

The main objective of the insurance policy is simplifying access to available health services included in the policy, ensuring quality of services provided by insurance companies and healthcare units and regulating the relationship among the parties of the insurance process including the policyholder.  This leads to providing legal protection to all parties and contributes to limiting disputes or abuses affecting either party.

It is worth mentioning that insurance premiums reached RO 191 million in 2022 compared to RO 163 million in 2021; which indicates continuous development of the sector.