Saudi Red Sea Authority Launches Coastal Tourism Insurance
These insurance products will encompass activities like sailing, kayaking, water skiing, diving, boating and surfing.
The Saudi Red Sea Authority (SRSA) and the Insurance Authority have partnered up to introduce new insurance products aimed at mitigating risks associated with coastal tourism activities. This initiative is part of a broader strategy to enhance navigational and marine tourism, aligning with Saudi Vision 2030.
Since 2021, SRSA has been actively working to regulate the coastal tourism sector, issuing licenses, developing policies, and preserving the marine environment. These insurance offerings will cover a variety of activities such as sailing, kayaking, water skiing, diving, boating and surfing. By collaborating with local insurance companies, SRSA aims to create a safer and more appealing environment for both participants and investors in the coastal tourism sector.
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