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M.S.Madhumitha
M.S.Madhumitha

Ranjith

Results of the past two years, which has eroded the capital of some insurers as well, said Mr Mustafa Vazayil, Managing Director of Gargash Insurance Services.


Deductible in motor insurance policy
Insurance policy documents are usually laden with confusing technical jargons and clauses for laymen. In Motor insurance policy document, you will come across a condition “deductible” or “excess”. In some policy documents, it is mentioned under Special Conditions saying: “The Insured or his representative shall bear AED --- out of the indemnity due in accordance with the terms and conditions.” A car deductible is an amount of money a customer has to pay in the event his vehicle meets with an accident due to his ‘own fault’ or an ‘unknown fault’ where recovery is not possible. Thus, it is part of the claim which is paid by the policyholder before ...

What’s covered in fire insurance policies
There have been a number of fire incidents, including those on the high rises, in the UAE. Negligence on the part of building owners in following the fire safety code will mean that they will end up paying for the services by the authorities in case of a fire. A business owner who failed to ensure that his facility followed the fire safety code was handed a AED80,000 bill to cover the expenses for putting out the fire that broke out at his establishment.  The charges were based on the number of hours spent on extinguishing the fire, the number of fire engines and firefighter teams used, and workers and ...

pre-packaged-ebp-for-small-units
As part of the mandatory health insurance for all employees in Dubai, Small and Medium Enterprises (SMEs) are required to provide medical insurance to their staff. SMEs are defined as companies employing up to 100 staff, though some insurers consider higher limit of 150 employees to be included in the SME category. SME employees can be covered in group health insurance under pre-packaged pre-packaged medical insurance plans.  This is provided as group health insurance. Most of the insurers require minimum of 11 employees to be covered. If there are fewer than 10 employees, then individual underwriting would be required for all members, though some insurance companies can do for 10 ...

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