The Insurance Authority, UAE has introduced financial regulations for insurance and takaful companies. This includes regulations on reserving, investment limits and solvency etc. Companies are also required to fill new prudential forms as part of enhanced reporting requirements. The actual implementation of the regulations are staggered over a number of years but companies are encouraged by the regulator to implement procedures even before the requirements becomes mandatory.
Dubai has introduced a mandatory health insurance scheme for private employees. The law makes it compulsory for employers and sponsors to provide health insurance in three phases from 2014-2016, according to the number of employees. The cost of health insurance coverage must be borne by the employer / sponsor. The minimum basic health coverage has been fixed at AED 150,000 per year with an annual premium between AED 500-700.