Fri. Jun 9th, 2023

Sunday, Jan 01, 2023 | Jamadi Al Thani 9, 1444
Published: Wed 7 Dec 2022, 4:54 PM
Last updated: Wed 7 Dec 2022, 5:25 PM
UAE employers are obligated to provide insurance coverage to their staff so they can be protected in case the company goes bankrupt. And for certain firms, the insurance policy for employees becomes a requirement when obtaining or renewing work permits.
In an advisory shared on Wednesday, the Ministry of Human Resources and Emiratisation (Mohre) explained that the rule applies to firms that are considered ‘high-risk’.
Here are the five cases in which companies are classified as high-risk:
Called Taa-meen, the policy will provide insurance coverage of up to Dh20,000 to every worker. The fund ensures that the staff will get their dues if the employer goes bankrupt, according to the UAE Government website.
This policy has been in place since 2018. It is intended to be an alternative that employers can opt for instead of keeping a Dh3,000 bank guarantee for every new worker recruited.
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