New insurance scheme titled Insurance Product launched to protect rights of expatriate workers, takes effect from October 6

A new insurance program called "Insurance Product" was introduced by the Insurance Authority and the Ministry of Human Resources and Social Development to defend the rights of foreign employees. The program, which goes into effect on Sunday, October 6, also lessens the financial load that employees would have to bear in the event that employers fail to pay salaries for a predetermined amount of time. 

If their employers default, the program will pay foreign employees' debts in private sector businesses. The Insurance Product, offered via insurance firms in the Kingdom, protects the payment of expatriate workers' dues if the establishment owners default on the payment of salaries. The insurance document's terms and benefits, as well as the regulations and procedures governing it, will be followed in the implementation of the plan. 

The introduction of the Insurance Product fits into the larger picture of initiatives to improve the labour market in the Kingdom through laws and policies, protect employee-employer contracts, and make the labour market more efficient and appealing both domestically and globally.

The Insurance Product is also compliant with the mechanisms and protocols, such as contract documentation and the Wage Protection Law, put in place by the Ministry of Human Resources and Social Development to protect the interests of employers and employees. 

You may view the ministry's handbook, which explains all the procedures associated with the insurance product, by visiting their website.