The total number of traffic accidents during the first quarter of this year has reached 23,800, including 4,100 serious accidents and approximately 19,700 minor accidents, unaudited quarterly data of the insurance sector showed. The volume of claims for minor traffic accidents grew by 9% for the first quarter of this year, compared to the same period last year, exceeding 20,400 which caused only material damage, the data released by Oman’s Capital market authority revealed.
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The data also showed a rise in the number of claims for serious traffic accidents, which caused material damage in addition to treatment expenses for human injuries by 12% compared to the same period last year, while the number of claims that caused deaths has witnessed an increase of 6%, reaching 145 traffic accidents. The compensation paid for minor traffic accidents with material damage only has decreased by 26% to reach 4.7 million riyals, against a large increase exceeding 300% in the compensation paid for serious traffic accidents, which caused material damage only, amounting to 2.45 million riyals.
As for compensation for serious traffic accidents, which caused material damage in addition to treatment expenses, they witnessed an increase of 6% reaching 1.3 million riyals, while the amount of compensation paid for fatalities due to serious traffic accidents decreased by 19% compared to the same period last year, where the value of blood money paid was 285,000 riyals.
The Capital Market Authority affirmed that adhering to road safety requirements and following the instructions of the Royal Oman Police is the best way to stave off the grave consequences of traffic accidents and the ensuing effects on property and lives. The authority added the insurance service is able to mitigate material consequences only, but it is unable to redress the moral effects
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