In the United Arab Emirates cyber insurance is becoming increasingly important as businesses and individuals rely more on technology and digital platforms. When it comes to cyber security, staying informed and proactive is the best approach to safeguarding your company’s network. By taking the necessary steps to protect your company’s data, you can avoid the devastating consequences of cyber-attacks and data breaches.

Cyber insurance is a crucial financial protection for companies that may fall victim to computer network disaster. In the uae banking, finance, health and oil and gas sectors are the most targeted sectors according to the reports. Cyber insurance is a type of insurance policy that provides coverage against losses and damages resulting from cyberattacks, data breaches, and other technology-related risks.  Which include

• Breach of information
• Privacy or data protection violation
• Unauthorized access
• Wrongful use of IT assets
• Transmission of any unauthorized software or computer virus

Cost of Cyber Insurance

The cost of cyber insurance is directly influenced by various factors, such as the volume of data available, the type of industry, and whether the company is remote working. It is important to note that small companies are not immune to cyber risks and should take necessary precautions. Also note, the coverage and terms of cyber insurance policies can vary depending on the insurance provider and the specific policy. It is important to review the policy terms and conditions carefully to ensure that the coverage provided meets your needs and expectations.

Some other tips to protect against cyberattacks.

· Ensure the anti-virus solution is up to date.

· All accounts should have a unique, complex password.

· Consider using a personal password manager.

· Apply security updates to your operating system, and browser regularly.

· Do not open e-mail attachments or click links from unknown sources.

· Maintain an asset inventory of all devices, virtual machines, applications, and identities.

· Ensure vulnerability, patch, and configuration management is applied to all assets.

· Ensure all access using privileged accounts (root, administrator, superuser, database owner, etc.) is managed and access is strictly protected using multi-factor authentication.

· Remove administrator access from all end users and ensure that all applications operate under a model of least privilege.

The post CYBER SAFETY & CYBER INSURANCE IN THE UAE first appeared on Prominent Insurance Brokers.

What is the ‘Unemployment Insurance scheme’?

This Insurance scheme is a form of insurance/social security that provides Emiratis and residents working in the federal and private sectors with financial support if they lose their jobs as a result of termination by their employers.Financial support will be provided in exchange for the monthly insurance premium paid by the worker during employment.

It applies to all private and federal workers except

• Investors, business owners who own and manage their business themselves

• Domestic workers

• Employees on a temporary basis

• Juveniles under the age of 18

• Retirees who receive pension and have joined a new employer.

Cost of subscription

• For workers earning less than AED 16,000, the monthly insurance premium will be AED 5 ( AED 60 annually). A monthly salary of AED 10,000 is allowed for this category.

• AED 10 per month is required from those with a basic salary over AED 16,000 (AED 120 annually) Monthly compensation for this category cannot exceed AED 20,000.

The worker may choose to pay the premium on a monthly, quarterly, half-yearly or on an annual basis. Also, the insured worker can subscribe to additional benefits in addition to the above basic package in coordination with the insurance company.

Eligibility

To be eligible for compensation, the worker must pay a monthly premium for at least twelve consecutive months.

How to claim

The worker must submit a claim within 30 days of the date of unemployment. The insurance company has two weeks, from receiving the claim, to transferring compensation to the insured’s account. Compensation will be paid from the date he/she loses the job and will be paid for three months or until he/she finds a job, whichever is earlier.

Suspension of the compensation

if any of the following situations occur, the insured worker will lose his/her eligibility for compensation.

•  If he/she was dismissed from work for disciplinary reasons.

(Under the UAE’s Labour Law in the private sector (Federal Decree Law No. 33 of 2021 Regarding the Regulation of Employment Relationship and its amendments) and the Human Resources Law in the federal government, in addition to any applicable legislations)

•           There has been fraud or deceit involved in his/her claim

•           The establishment where he/she works is fictitious.

You can purchase Involuntary Loss of Employment Scheme from the official website.

Click here. https://iloe.ae

The post UNEMPLOYEMENT INSURANCE: WHO IS ELIGIBLE, HOW TO CLAIM. EXPLAINED. first appeared on Prominent Insurance Brokers.

The United Arab Emirates has been at the forefront of promoting and developing artificial intelligence in the region. The UAE government has recognized the importance of AI and has made significant investments in this field in recent years. The UAE’s investment in AI and its efforts to promote the development of this technology have positioned it as a leading player in the global AI industry. In the not-too-distant future, the insurance industry in the UAE will be transformed by the power of artificial intelligence. Gone are the days of lengthy claims processes and endless paperwork. With AI, insurance companies will be able to process claims quicker, using algorithms to analyze data and make decisions based on risk and probability.

Massive amounts of data are processed, risks are assessed, and decision making will be speedier using algorithms driven by artificial intelligence. With the help of artificial intelligence, insurance operations can be made more efficient and accurate.

Immediate customer service

Chatbots enabled by AI can deliver immediate customer service, lowering wait times and increasing customer happiness.

More clarity on data analysis

AI can make better decisions based on rapid and reliable data analysis. Especially in claims processing

Less turnaround time

In the highly competitive UAE insurance market, AI can be helpful in analyzing data and finding the best policy for each customer faster.

Personalized products and pricing

Using AI allows insurers to better understand client demands and risks.

But AI won’t just streamline the claims process. It will also revolutionize the way insurance companies assess risk. By analysing vast amounts of data from a variety of sources, including social media and IoT devices, AI will be able to predict and prevent accidents before they happen. This will not only save insurance companies money, but it will also help keep people safe and reduce the number of claims filed.

Of course, there will be challenges to overcome as AI becomes more prevalent in the insurance industry. Privacy concerns will need to be addressed, and there will be a need for skilled professionals who can work with AI systems. But overall, the future of insurance in the UAE looks bright, with AI poised to change everything from claims processing to risk assessment.

The post IS THE FUTURE OF UAE INSURANCE INDUSTRY MORE PROMISING WITH AI? first appeared on Prominent Insurance Brokers.

Pet parents think about term insurance when vet bills continue to be a challenge. In the UAE, pet insurance is a relatively new concept. Pet parents and industry executives strongly recommend pet insurance for unexpected vet bills. At the moment, only dogs and cats are covered by insurers in the UAE, and the cost of treatment is typically higher. Under existing insurance plans offered by local insurers, veterinary fees are covered up to D30,000.

How much do you need to pay?

• The costs of pet insurance vary according to the breed and size of the pet (Normally Dh 1000 to Dh 5000)
• It costs about Dh1,500 per year for puppies, but it costs around Dh3,500 per year for older dogs.

What’s covered and what’s not

1. Covers most of the veterinary fees
2. Covers any accidental injuries to the pet
3. Covers pet liability which an owner may need due to any damage caused by the pet.
4. Death compensation for the pet
5. Liabilities caused by the pet and rewards to find a lost pet.
6. Coverage for a life-threatening disease
7.  Pre-existing conditions that exist prior to the purchase of policy are strictly not covered.
8.  Elective treatments like spaying/neutering aren’t covered as well.

In the same way that medical insurance protects the owner against unexpected medical costs, pet insurance protects the owner from unplanned vet bills. Also, remember, that insurance premiums will grow with your pet. Better to insure them now.

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A large part of the economy of the UAE has been based on trading by sea for many years, and it remains a fundamental part of the UAE’s economy today. The UAE is a hub of world trade, and Dubai specifically operates on an import-export industry thriving on millions of dirhams of goods passing through its ports and free zones every day.

In today’s global economy, the substantial growth in international trade means there is more cargo being transported around the world than ever before. Naturally, your imports and exports are exposed to various transit hazards that can result in serious financial loss. Marine Insurance is widely available in the UAE offering a wide range of coverages.

We at Prominent Insurance Brokers, organize right and proper protection for the movement of your goods to or from anywhere in the world. Whether you’re shipping goods by sea, air or road, we’ll ensure they’re protected. Depending on the type and frequency of cargo transit, our policies can be flexible, so you can feel at ease wherever and whenever your cargo is being sent.

•Marine Cargo Voyage

 Single Transit Policy – Under this insurance, coverage is given to a single shipment from a specified point of origin to the specified destination.

•Marine Cargo Open Cover

An Open Cover/Annual Insurance is a contract covering all shipments of the Insured during the period of insurance on terms as agreed on a shipment declaration basis or annual blanket cover maintaining minimum and deposit premium. By availing this, the insured is relieved of the hassle of arranging separate policies for individual shipments and need only to make periodical declaration.

For your convenience, we may even arrange on online portal from “A” rated Insurance Companies wherein you may issue certificates of insurance in your office 24×7. With the right Marine Insurance policy from us, you can safeguard goods, deals and peace of mind.

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Heat and humidity are prevalent almost year-round in the UAE, but the roads can become dangerous as the temperature rises. In some parts of the country, temperatures reach 45 to 50 degrees.  High temperatures pose a very serious threat to car safety. Flat batteries, tire blowouts, and air-conditioning problems are some of the most common problems people face in hot weather.

Summer checklist

1. Keep your tires properly inflated and with the right type.
2. Inflate nitrogen air in the tires as it helps to cool down the heat on our vehicle tires.
3. Check fluid levels regularly
4. Routine vehicle maintenance at authorized car service centers.
5. Never store flammable materials in your car
6. Be sure your car insurance includes roadside assistance, AAA, or towing

Tips for your car safety

• Keep window tints —To protect the interior of your car from being damaged by the heat and reduce the impact of UV rays
• Park the car in the shade — This is crucial to prevent damage to both the interior and exterior of your car
• Seeing clearly — It is vital your wipers are working properly to help reduce the impact of dust on the windscreen. Keeping water levels topped up is also important
• Keep a bottle of water in your car — You might need this in the unfortunate event that you break down.
• Cover up the car and dashboard — A cover over the car will help to reduce harm from the sun and heat. Keeping the dashboard covered will also stop the interior from feeling so hot when you start driving.

The post UAE SUMMER & YOUR VEHICLE SAFETY first appeared on Prominent Insurance Brokers.

Financial freedom is a state, which all of us wish to achieve at some point in our life. When you start practicing it, you believe that savings are enough to be financially stable. But from the practical perspective of life, you would understand savings alone are not enough to achieve financial stability. There comes the term insurance. It can simply define as securing your asset. In other words, buying insurance ensures that you are financially secure to face any type of problem/tragedy in life. That’s why term insurance is a very important part of financial planning.

Main reasons for having an insurance policy

• Financial Security
  At some unexpected twists of life, no matter how much you are earning or how much you have saved, your financial position can be dented by an unexpected event in a moment. The best way to become financially secure is to cover yourself, your family, and your assets with the right insurance policy. That will save and support you from life’s unforeseen events.
  
  
• Threat lift
  In simple terms, insurance will lift your financial burden of an unforeseen event to the insurer. As an insured, you pay premiums to receive compensation from the insurer. Insurance agreements assure that will transfer financial risk from the insured to the insurer with prefixed terms and conditions agreed by both parties. So, having insurance reduces the financial burden on your shoulders.
  
  
• Insurance Ensures Family and Business Stability
  Rather than money, family is the most important asset in life. No matter how much you spend on other expenses for the family, the right insurance gives the perfect protection for them. So always make sure that you and your family are completely secure to face any emergency. It’s similar to a business. Should a key member or piece of equipment go out of commission, the business can carry on, thanks to insurance
  
  
• Stress /Tension Relief in Difficult Times
  Every day in life will not be the same. It will create some events that make us happy or sad. We cannot predict or see the future or predetermine future events. Any unforeseen tragedy can leave you physically, mentally, and financially strained. So, if you have insurance to take care of the outcomes of such tragedies such as illness, injury, or permanent disability, even death- you save yourself and your family from tension and stress. With insurance in place, any financial stress will be taken care of, and you can focus on your recovery.
  
  
• Some Types of Insurances are Compulsory
  Insurance is necessary because sometimes it is mandatory as per the law. In UAE Health insurance, Property insurance (motor, fire, marine) Liability insurance (third party liability for vehicles, personal accident insurance, employer liability insurance) are some examples of this.The sum of all these reasons provides enough reason as to why insurance is necessary. Insurance, an intangible, provides another intangible: peace of mind. When you buy insurance, you’re buying a promise. It’s a promise that saves you when life gives you a U-turn.

The post WHY INSURANCE IS IMPORTANT? first appeared on Prominent Insurance Brokers.

For dune bashing as you all know Four-wheel drive (4WD or 4Xd) types are advisable. Do not ever think of an all-wheel-drive for dune bashing. Jeep Wrangler, Ford Raptor, Toyota Land Cruiser, Nissan Patrol, Land Rover & Range Rover, Chevrolet Tahoe, Mercedes G-Wagon are some vehicle suggestions that have the best customer ranking for your dream desert trip.

1. Never travel alone

When it comes to off-road driving, the first rule is to never travel alone. At least two vehicles should be on the road. Even the most experienced drivers have accidents, so having at least one more car in the party to get back safely is essential.

2. Some training will help

When it comes to steering, accelerating, and braking, leaping over dunes and rugged trails demand skill.

We strongly advise you to take a few classes with experts if you are planning to drive. There are so many desert safari organizations all around UAE. Understanding off-road driving will help you overcome your fear and make the experience more enjoyable.
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3. Make your Dune Bash list

Before every tour, we normally list our necessary items. Likewise, a checklist for your car will help you on your desert trip.

• Make sure you have all of your documents with you, including your driver’s license, vehicle registration, identification, and, of course, off-road driving insurance
• Using a high bar at the back of the truck to hang a flag. It will assist others in finding you if you are hidden behind a dune.
• Use a net to secure all heavy goods. While flying over a dune, you don’t want a cool box to hit you in the back.
• Check the fluid levels (water, oil, clutch, steering, coolants) and fill them if necessary. Never drive off-road with a half-full tank of gas.
  
  Essentials checklist for your trip
  

1. Off-road Insurance Cover
2. Recovery Kit
3. Detailed map or a GPS
4. Wooden plank to avoid the jack to sink into the sand
5. Car Jack & Tire pressure gauge
6. Spare Tire – Perfect condition
7. Shovel
8. Sand mats
9. Tow-rope elastic type
10. First aid kit
11. Enough water
12. Torch & Walkie-talkie
13. Flag with Flagpole
14. Fire extinguisher
    

4. Make your vehicle and check your papers

When it comes to car insurance, be sure to read the terms and conditions. Even better, check with your insurance company to see if your policy includes off-road driving. Many insurers do not include it in their policies. There will be some conditions apply in some cases. Sometimes off-road cover will only cover you if the accident occurs within 500 meters of the road. So before you start, read your current policy, try to get Off-Road insurance.

The post WINTER CALLING! SOME TIPS FOR OFF-ROAD LOVERS first appeared on Prominent Insurance Brokers.

Everyone will have a dream car. For sure most of us are spending so much time and effort searching, learning about the latest car models, Colors, Specifications, innovative safety features. It’s very interesting too. But when it comes to car insurance, many of us don’t have enough information. Don’t worry, here are some tips for buying car insurance in Dubai.

1. Selecting your car

As we all know, Insurance companies calculate premiums based on several variables; car type is very important in it. Specifics of your vehicle, vehicle model, safety features, type, year of manufacturing are some other features in which insurance companies look in to. Normally if you own a sports car or an SUV, insurance premium will cost more

2. Choose the most suitable plan

There are two types of car insurance policies in UAE market

1. Third-Party Motor Insurance
In the event of an accident, the third-party coverage covers your legal duty for bodily injury, death, or third-party property damage. When you make own damage to your vehicle, it will not be covered.

2. Comprehensive Motor Insurance
You obtain an extension of the third-party insurance plan with the comprehensive insurance plan. It also protects you against small to large replacement or repair costs for your car. It also covers the damages made to a third-party in the event of an accident. Non-collision damages such as theft, fire, and natural calamities are also covered under comprehensive coverage. Comprehensive coverage is the best option for new vehicles and expensive cars because it offers better coverage than a third-party plan. Although comprehensive coverage is more expensive than a third-party plan, it is the best option for new vehicles and expensive cars because it offers better coverage.

3. Policy Type and Plan Detail

Before you select a car insurance plan experts strongly advise to check your car insurance plan covers. Before choosing Comprehensive or Third-party insurance, make sure you are aware of the covers in detail. Each and every insurance policy is not providing comprehensive benefits. Know the inclusions as well as exclusions of the plan. Also check the maximum insurance coverage offered by the insurance plan. Always try to compare plans so that you will get best price in the industry.

4. Check the inclusions

It’s always important to double-check what’s included in the policy you buy for your car before agreeing to the terms and conditions and signing the policy papers. Because not all policies give comprehensive coverage, you should double-check what sections of the car the policy covers and what the policy’s maximum coverage is. Also, double-check the inclusions, if any were promised in the policy document by the vehicle insurance provider.

5. Check the exclusions

It’s also crucial to check what isn’t covered by the policy by reading the policy paper, much like the inclusions. By comprehending the exclusions, you will be aware of the potential hazards in the future and will be able to take the required actions to avoid them.

6. Choose the right add-ons

With so many varying preferences among consumers, motor insurance providers give variety of add-on coverage to match their expanded requirements. You can choose them if your basic insurance does not meet your insurance needs, despite the fact that they are fully optional. Although it is advantageous because you can customize your plan, it comes at an additional cost in addition to your standard insurance premium. It’s wise to think about the benefits and protections that any auto insurance add-ons may provide before dismissing them totally. Here is a list of most essential add-ons that you should consider

• ZERO DEPRECIATION
• ROADSIDE ASSISTANCE
• ENGINE PROTECTION
• LOSS OF PERSONAL BELONGINGS
• OFF-ROAD COVER
• PERSONAL INJURY COVERAGE
  

7. Check the validity

Every motor insurance policy has an expiration date since insurance coverage expires at the conclusion of the policy term. Normal duration of every policy is upto 13 months from the date of issue. Since motor insurance is mandatory in UAE, it’s vital to renew your policy before it expires in order to continue receiving coverage. Insurance companies will not give coverage for your car even if it is a day after the policy’s expiration date, and you will be charged additional fees to renew the expired policy. As a result, make sure to renew it before the expiration date to ensure continuous coverage. When you get vehicle insurance online, you can keep track of your policy renewals much more easily.

The post MOTOR INSURANCE TIPS FOR YOU first appeared on Prominent Insurance Brokers.

No one on earth wants car accidents. But sometimes if you managed to drive very carefully also some others will break your bumper. After a car accident, obviously, you have to meet so many bills. There will be hospital expenses, car rental costs, repair as well. The list will be long enough. There comes motor insurance to rescue you from that financial as well as psychological toll. However, if you have been injured in a car accident that was clearly the fault of another individual, you may be able to file a car accident liability case. Whether you were driving a truck, a passenger in a traffic accident, or a pedestrian struck by a car, you have an absolute right to be compensated for any hospital bills, lost revenue, lost estimated future income, and any other expenses incurred as a result of an auto accident.

These are the types of rewards you will receive if you are harmed as a result of another driver’s negligence.

The types of car accident compensation

There are several types of injuries, and the amount you receive is totally dependent on various factors. The town where you were injured, the vehicle in which you were injured, and whether you were the driver or a passenger all play a role in compensating for your car accident.

Health Expenses

Medical bill coverage pays for all of your accident-related expenses, including physical therapy, treatment, hospitalization fees, specialist appointments, and so on. In addition, if your injuries require ongoing medical attention, you can claim for benefits to cover your anticipated medical expenditures.

• Loss income
  This type of benefit is provided by the allowance for the period you were unable to work owing to the damage caused by the vehicle accident. You will, however, be compensated for any potential losses. It should be highlighted, however, that if he is compelled to locate another low-paying work, he has the right to sue for the loss of his potential earnings.
  
  
• Damage to property
  This type of insurance covers the restoration or removal of a vehicle that has been damaged in an accident. In addition, you will be compensated for any other property damage caused by the collision.
  
  
• Punitive damages
  They aren’t meant to compensate you for a single transaction. They’re meant to dissuade others from doing acts that could harm more people. Punitive harm, on the other hand, is extremely uncommon in car accidents. If the individual or group who harmed you acted negligently or knowingly, you can usually seek punitive damages.
  
  
• Loss of Consortium
  The consortium, on the other hand, is a civil phrase for a wife’s or husband’s companionship. You will be compensated for the lack of physical intimacy you have experienced as a result of your injuries acquired in the vehicle accident.
  
  

Who will pay medical bills after a car accident?

In most cases, the driver’s vehicle insurance agent who was at fault during the car accident may be legally liable for the amount of money you could receive. However, before you accept any offer, you should consult with an attorney who is not affiliated with the auto insurance company to confirm that the settlement payout you receive is equal to the compensation amount you are entitled to.

It is critical for all vehicle owners to obtain appropriate and strong car insurance coverage in the UAE in order to get reimbursement for third-party accidents and damages caused by the vehicle following a traffic collision. In addition, personal accident insurance is frequently provided to protect you from personal injury or death. And you must compare vehicle insurance online to find the lowest auto insurance package based on its features, incentives, availability, and rate. Certainly, this will assist you in locating the best deal.

The post AFTER A CAR ACCIDENT WHAT YOU SHOULD DO? first appeared on Prominent Insurance Brokers.