UAE – Insurance project to benefit 5.7M workers
Saturday, 05 19 2018, Category: Insurance and Reinsurance, Country: U.A.E
The Ministry of Human Resources and Emiratisation prepared a draft insurance project, which will replace the “banking guarantee”. It has been submitted to the council of ministers for further study in order to provide insurance coverage to the temporary labor of the private sector and assistive employees.
According to the draft law, private companies will have to by insurance “policies” on labor instead of placing a banking guarantee at the Ministry of Human Resources and Emiratisation.
The new law of which “Al Ittihad” received a copy say that the ministry could sign a contract with licensed insurance companies in the country for this special project.
Source: Al Ittihad