The Company for Cooperative Insurance (Tawuniya) has been designated to lead the pool for Inherent Defects Insurance (IDI) from 24 June 2025 for a three-year term, the Insurance Authority (IA) has announced.
Malath Cooperative Insurance Company had been leading the pool, which includes 17 insurers, since the compulsory scheme was launched in 2020. That same year, Saudi Reinsurance Company was named the exclusive reinsurer of the IDI scheme on behalf of the Saudi insurance industry for five years.
The Insurance Authority issued the standard form of the IDI policy. Acquiring IDI coverage is mandatory for residential and commercial buildings and is a prerequisite for the issuance of building permits.