Published by The Insurance Authority announced via its account on the X platform an insurance product related to ”insurance against hidden defects,“ which was designed to enhance the safety and quality of buildings and structures during the construction phases, providing long-term protection of up to 10 years against hidden defects that were not detected during construction.

The insurance policy stipulates that the project owner and contractor must obtain it through a licensed insurance company approved by the relevant authorities, with the requirement to engage technical inspection firms approved by the insurance company to ensure compliance with the required engineering and quality standards. The insurance coverage includes structural risks that may lead to the total or partial collapse of buildings or threaten safety.
Experts also believe that insurance coverage for hidden defects and adherence to the Saudi Building Code standards will help reduce disputes among stakeholders in construction projects, and enhance the safety and quality of buildings, thereby supporting the achievement of the Kingdom’s Vision 2030 goals in building a sustainable urban society based on quality of life.