Muscat: Oman's insurers paid RO 11.7 million as traffic accident compensation claims during the first half of this year compared to RO 13.9 million in the same period of 2022 as mishaps showed a decrease of 1.7 per cent. In H1 2023, insurers disbursed compensation amounting to 15 per cent of the total claims.
According to the Capital Market Authority, the total number of traffic accidents exceeded 37,000 of which 7,763 were classified as serious and 29,600 as minor traffic accidents.
The CMA’s unaudited data for the first half of 2023 showed a total of 37,000 traffic accidents. Of these, 7,763 were classified as serious, indicating a considerable risk to life and property.
Despite the decrease in accident numbers, compensation claims remained substantial, with approximately 41,000 claims filed in H1 2023, a slight decline from the 44,000 claims in H1 2022.
Of the total accidents, 29,600 were minor traffic accidents, which witnessed a 19-per cent decrease in compensation claims compared to the previous year. The total compensation paid for minor accidents amounted to RO 5.7 million.
Serious accidents with material damage led to RO 3.7 million payout.
Compensation for serious accidents with injuries recorded a 5-per cent decrease at more than RO 2 million.
The payout for death cases amounted to approximately RO 275,000, with 191 verified claims. This marked an 18-per cent increase compared to H1 2022.
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