Insurers could control loss ratios by selling policies at minimum technical pricing at least, while also trying to control medical fraud and misuse of medical benefits, says the rating agency. Oman's insurance industry will need to overcome operational deficiencies, including underdeveloped claims management infrastructure, in order to respond to incoming rules requiring mandatory health insurance for the country's population. If this can be achieved, however, gross written premiums in the country are forecast to increase by roughly 10% in the next two years, according to S&P Global Ratings. The government of Oman has been working on a new healthcare law since 2009, but it is still not fully operational.
Oman's insurance industry will need to overcome operational deficiencies, including underdeveloped claims management infrastructure, in order to respond to incoming rules requiring mandatory health insurance for the country's population. If this can be achieved, however, gross written premiums in the country are forecast to increase by roughly 10% in the next two years, according to S&P Global Ratings. The government of Oman has been working on a new healthcare law since 2009, but it is still not fully operational.