Malath Cooperative Insurance Co. announced on December 1, 2025, that it received final approval from the Insurance Authority to market and sell the Contractor's works insurance product for latent defects (Mandatory). The product, identified as P-MLTH-1-B-25-061, provides coverage for construction works against latent defects for up to ten years, targeting residential and commercial buildings. The insurance is designed for property owners, contractors, and real estate developers, covering defects in construction works, protective elements, and mechanical, electrical, and plumbing installations implemented according to the Saudi building code.

Original announcement:

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