The Bahrain Insurance Association (BIA) has reached an agreement with the Central Bank of Bahrain and the Labor Market Regulatory Authority to reduce premiums for voluntary insurance policies for domestic workers by 20%.
The premium reduction will be available until the beginning of March, according to a report by the MENA Financial Services Network. The aim is to encourage employers of citizens and residents to insure domestic workers.
BIA president Jawad Muhammad said that reducing the premiums is an important initiative aimed at promoting a culture of insurance for domestic workers. The voluntary insurance system for domestic workers, which was launched last August, represents a protection umbrella for citizens and residents.
Mr Muhammad said, “We seek to build on societal awareness to spread the culture of insurance in general in the community, noting that reducing premiums is one of the important initiatives on this path.”
He pointed out that three domestic worker insurance packages are offered at different prices, with benefits commensurate with the different categories. The insurance packages cover risks such as death from any cause, return of the body, compensation in case of partial or total disability, medical expenses as a result of an accident. The packages also cover the domestic worker quitting the job in violation of the terms of his or her work permit, and other related benefits. M