A credit insurance policy offers goods vendors and service providers the option of insuring a substantial portion of the risk of customer default or prolonged payment delay. This makes credit insurance an important risk management instrument.
What is insured?
The insurance covers defaults occurring during the term of the insurance policy as a consequence of an insured customer's inability to pay at home and abroad, whether for commercial reasons (e.g. the insolvency of a debtor or a delay in payment resulting from economic conditions) or for political reasons (e.g. restrictions on payment transactions, war or civil war).
Additional benefits of credit insurance
As well as the insurance cover itself, credit insurance includes additional services, such as credit reviews and monitoring and, upon request, the handling of the debt collection and dunning process.
A credit insurance must be adjusted to your needs. It is available in various forms, such as individual risk covers, international and emergency management programmes or the use of an in-house captive. Aon can provide all the help you need in every aspect of structuring your own optimum insurance programme.
Health insurance for UAE nationals
Under the 'Thiqa' programme, Abu Dhabi Government provides full medical coverage for all UAE nationals living in Abu Dhabi. Citizens get a Thiqa card, through which they get comprehensive access to a large number of private and public healthcare providers registered within Daman's network. It also includes broader geographical coverage and extra health benefits.
In order to qualify for the Thiqa programme, UAE nationals living in Abu Dhabi who are 18 to 75 years old need to undergo the Weqaya screening run by the Department of Health - Abu Dhabi. The health check is done in order to identify cardiovascular risk factors, and may be waived only in exceptional cases.
Amendments to insurance programmes
The Department of Health in Abu Dhabi announced a number of amendments to health insurance programmes to both the 'Thiqa' plan and the Abu Dhabi Basic Plan. The amendments came into effect from 1 July 2016. They were designed to utilise the health insurance system in increasing overall efficiency across the sector to better meet current and future demands.
Saada is a health insurance programme for the citizens in the emirate of Dubai. It provides insurance coverage to citizens who do not currently benefit from any government health programme in the emirate of Dubai. The programme provides treatment through a large network of healthcare providers in the private sector and DHA healthcare centres. Citizens' Emirates ID card carries details of the Saada programme they are subscribed to.
Residents of Dubai can file an online complaint regarding health insurance services and/or providers in the emirate through Dubai Health Authority’s eSystem (iPROMeS).
The Department of Health Insurance at Sharjah Health Authority oversees health insurance coverage for UAE nationals in the emirate of Sharjah. Initially, Sharjah Government provided health coverage only to Sharjah Government employees, their dependents and and Senior Emiratis (those who are 60 years old or above). However, since January 2020, it decided to extend the insurance coverage to all citizens of Sharjah.
The Government of Ajman provides all its employees with health insurance. An updated list of hospitals, clinics and pharmacies approved by the health insurance network and claim forms can be accessed from Ajman Government site.
Health insurance for resident expatriates
The extent of coverage for employers and their dependents is determined by the employee's salary, designation etc. The extent of coverage and type of policy/scheme would determine the cost of your medical services.
In the emirate of Abu Dhabi, employers and sponsors are responsible for the providing health insurance coverage for their employees and their families (1 spouse and 3 children under 18 years).
In the emirate of Dubai, employers are required to provide health insurance coverage for their employees. Sponsors are required to get insurance cover for their resident dependents.
There are several insurance companies in the UAE. Many also provide Islamic insurance (takaful). The website of Insurance Authority provides a list of registered insurance companies
in the UAE.