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professional indemnity a cover for errors and omissions
Professional indemnity (PI) insurance is still very much an emerging class of business in the Gulf. It is a form of liability insurance which protects companies and individuals who provide professional advice against a claim for negligence made by a client, and legal liability arising thereof for property damage, bodily injury, etc. Legal costs for defence are additionally covered. Any person who gives advice, designs, or offers similar services in a professional capacity is seen by clients as an expert. It’s natural that clients will pursue a claim if they feel that they have received erroneous advice. The scope of coverage typically focuses on legal liability arising due to ...

VAT on insurance
Be prepared to shell out that extra buck by way of Value Added Tax (VAT) in the UAE from January 1, 2018. VAT, a consumer-based tax on the supply of goods and services, will have to be borne by the consumers, like sales tax in other countries.VAT, a consumer-based tax on the supply of goods and services, will have to be borne by the consumers, like sales tax in other countries. The exempted categories are education, healthcare and certain food items. As per available information, no VAT will be payable on nursery school, pre-school, elementary school and government-funded university fees as these will be zero-rated. Non-government funded university fees ...

uae makes commercial drone insurance mandatory
Commercial drone operations in the UAE have been brought under strict regulatory guidelines. The new guidelines makes it mandatory for all commercial unmanned aerial vehicles (UAVs) to obtain insurance coverage in an effort to protect both the operator and the companies hiring the facility as well as other parties exposed to risks brought about due to the operation of the UAV. Commercial drone operations in the UAE have been brought under strict regulatory guidelines. The new guidelines makes it mandatory for all commercial unmanned aerial vehicles (UAVs) to obtain insurance coverage in an effort to protect both the operator and the companies hiring the facility as well as other parties ...

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