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Mar 2024

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Source: Middle East Insurance Review | Nov 2020

Algeria: Insurance coverage for healthcare professionals
Five life insurance companies in Algeria are collaborating to provide coverage for medical workers who are directly exposed to the COVID-19 pandemic.
 
The insurance policy, marketed in the form of a group contract, is backed by the state budget, said media reports. It will be managed in co-insurance with CAARAMA Assurance as the lead insurer in charge of handling the contract and managing claims on behalf of the co-insurers.
 
In its final phase, the policy would include coverage for death by any cause and total disability supplemented by an additional death coverage due to the coronavirus. The insurer will also cover medical expenses and assistance at the patient’s home.

Bahrain National Insurance launches COVID-19 corporate solution
Bahrain National Insurance (bni) has launched a COVID-19 insurance cover aimed at offering employers the opportunity to ensure their employees’ financial and emotional well-being during the treatment and recovery process.
 
“This group policy is expected to be useful to various private and public establishments for covering COVID-19-related medical needs of their employees. It will also be beneficial for various categories of frontline workers as groups. While most firms plan for emergencies that impact business continuity, the COVID-19 pandemic has caught many off guard,” said bni assistant general manager Rayan Al Mahmood.
 
He added, “Various benefits are offered under this policy, such as should employees be positively diagnosed with COVID-19, they would receive a one-off amount that could help alleviate any immediate financial worries and provide them with some comfort throughout their treatment and recovery process and if employees need medical care due to COVID-19 and are admitted to a hospital, the policy will offer private hospitalisation and cover the expenses.”

Oman: COVID-19 insurance for airline passengers
Oman Air is providing its passengers with complimentary COVID-19 insurance coverage which will cover expenses incurred from medical treatment or quarantine related to the coronavirus, reported the Times of Oman.
 
The coverage, which is effective for travel from 1 October 2020 until 31 March 2021, is provided to all passengers for travel outside their country of residence.
 
The insurance is underwritten by various insurers in the Middle East including Oman United Insurance Company for residents of Oman, Orient Insurance (Bahrain Office) for residents of Bahrain and Doha Insurance for residents of Qatar.
 
The insurance, however, does not cover passengers with an Omani resident card (non-citizen) travelling to Oman.
 
Features of the insurance include 24-hour COVID-19 assistance, emergency medical assistance as well as coverage of repatriation and quarantine accommodation costs. It does not cover PCR test costs.
 
According to the airline, the insurance policy is valid from the first day of the passenger’s trip up to 31 days and passengers will remain covered even if they travel onwards to another city.

UAE: ‘Insurance_Next’ provides practical guide on digital transformation
The insurance sector is in desperate need of a practical hands-on guide on how to reinvent the incumbent insurer, making it better prepared and resilient for the future, said Mr Frederik Bisbjerg, a specialist in digital transformation based in the UAE, and author of Insurance_Next.
The book is based on 25 years of successful experiences in business transformation and it is designed to help insurers analyse and recreate their future.  
 
Against the backdrop of COVID-19, which has accelerated the pace of change, Mr Bisbjerg details the requirements for change, both from the perspective of strategy setting and more importantly, the specific operating model implications (people, processes and systems), and looks at practical steps insurers can take to navigate the new normal.
 
The book is a handy practical guide for stakeholders in the industry looking to embark on the uncertain, but much needed journey towards digital transformation.
 
Insurance_Next is available at Amazon, $49 (print list price) or $34.99 (Kindle price). M 
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