Classes of Insurance
Article Three
Insurance is divided into insurance and reinsurance business activities, and it covers the following insurance classes:
First: General Insurance
1. Accident and liability insurance including the following:
a. Personal Accident Insurance.
b. Work Related Insurance.
c. Employer’s Liability Insurance.
d. Third Party Liability Insurance.
e. General Liability Insurance.
f. Product Liability Insurance.
g. Medical liability Insurance.
h. Professional Liability Insurance.
i. Theft and Burglary Insurance.
j. Fidelity Insurance.
k. Safe Burglary Insurance inside the premises and in transit.
l. Any other Liability Insurance
2. Motor Insurance: Provides coverage against losses and liability related to motor vehicles, excluding transport insurance.
3. Property Insurance: Provides coverage against fire, theft, explosions, natural phenomena, civil disturbances, and any other insurance included under this class of insurance.
4. Marine Insurance: Provides coverage for goods in transit and the vehicles of transportation on waterways, and any other insurance included under this class of insurance.
5. Aviation Insurance: Provides coverage for airline hulls and liability against passengers and third parties, freight transport by air, and any other insurance included under this class of insurance.
6. Energy Insurance: Provides coverage for oil, petrochemical, other energy installations, and any other insurance included under this class of insurance.
7. Engineering Insurance: Provides coverage for builder’s risks, construction, mechanical, electrical, electronic, and machinery breakdown, and any other insurance included under this class of insurance.
8. Other Classes: includes all recognized classes of general insurance not mentioned above.
Second: Health Insurance
Health insurance provides individual or group coverage for medical costs, medicines, medical and medications requirements as well as management of medical programmes.
Third: Protection and Savings Insurance
1. Protection Insurance: Provides individual or group coverage for death related consequences, and permanent and partial disability.
2. Protection and Savings Insurance: Provides individual or group coverage for death related consequences, and permanent and partial disability with a saving / retirement plan for an additional premium paid by the insured.
3. Other Protection and Savings Insurance: It includes other classes of insurance in the protection and savings insurance not mentioned above.