William Russell Health Insurance Now Available in Abu Dhabi

By Marius | Published February 20, 2012

Prominent international expatriate medical insurance company, William Russell, announced this past week that they are finally bringing their award-winning global health, life and income protection plans to businesses in Abu Dhabi through a new partnership with a local firm.

William Russell’s global health insurance plans are designed to provide expatriate staff with access to the high-quality private healthcare services they need whilst living and working overseas. Global medical insurance plans often appeal to large multinational corporations who need to provide quality benefits, usually with minimal restrictions and worldwide cover, for their discerning senior executive employees. While these high-value international health insurance products have been available in the United Arab Emirates (UAE) for some time, strict health insurance regulations barring non-locally domiciled providers had prevented the sale of William Russell policies in the Emirate of Abu Dhabi.

However, this all changed in the past week. William Russell’s long time regional underwriting partner, the Dubai Insurance Company (DIC), was able to fully license their insurance products as part of eligible employee benefit schemes for all private sector companies in Abu Dhabi. These plans, which will now be distributed through international health insurance brokers and independent financial advisors, are underwritten by DIC and administered through William Russell. The product range will include William Russell’s Global Health expatriate medical insurance plans, Global Life insurance protection for groups and individuals, and Global Income Protection, which provides a standard income for an expatriate if he becomes unable to continue working due to illness or injury. These plans were then further authorized by the Health Authority Abu Dhabi (HAAD), marking them fully HAAD-compliant in line with local regulatory policy. By law, all expatriate workers are required to take out health insurance while staying in Abu Dhabi, a provision now being extended to local residents as well. With one of the largest expatriate workforces in the region, William Russell could not afford to be out of the Abu Dhabi employee benefits market for long.

William Russell will oversee the rollout of their insurance products into this new market from their dedicated office for the Middle East region in Dubai. The insurer’s intended targets in Abu Dhabi will include both small businesses with several international employees and larger corporations who need to provide competitive benefits for their valued senior executives*. Colin Ward, the company’s regional sales director, explained in a press statement that their extended partnership with DIC, a well-established and reputable local firm, would enable them to more effectively market their international health, life and income protection plans across the entire Gulf region. “We’re delighted that the plans are now licensed for sale in Abu Dhabi, so we will be actively marketing the Plans within the region for any discerning clients who demand quality, both in terms of product and service, with minimal restrictions and worldwide cover,” Mr. Ward added.

DIC became the UAE’s first local insurance company when it was incorporated in 1970 as a public shareholding company. Over the past 5 years the insurer’s premium volume has grown from just under AED 30 million (US$8.1 million)to over AED 270 million (US$73.5 million) in 2011. William Russell has been involved with DIC since May 2008. Since the collaboration began, both firms have been witness to a sizeable growth in the sales in international health, life and income insurance products for companies throughout the UAE. According to the latest figures provided by William Russell, sales of new group insurance policies grew by 53 percent year-on-year in 2010, and 100 percent of all company policies have been renewed since November 2009. This considerable demand for greater international employee protection has necessitated the expansion of William Russell’s Dubai-based team, which included the appointment of an additional client relationship professional and a claims administrator back in 2010.

Combing DIC’s extensive local knowledge, infrastructure and experience with William Russell attractive international portfolio will give companies in Abu Dhabi the ability to offer more globally competitive benefit packages to both attract and retain their important senior staff. In a press statement, DIC Chief Executive Officer, Abdellatif Abuqurah, acknowledged that traditionally it had been difficult for companies in Abu Dhabi to secure a wide range of employee benefits and coverage options from one specialist insurer. Now that William Russell products are fully licensed for sale DIC expects local companies to show an increased interest in taking out comprehensive coverage policies. Large corporate clients will likely be drawn to William Russell policies that can guarantee high value international protection for their senior staff, while smaller Abu Dhabi-based employers will be looking for cost-effective group policies that can provide a wide range of benefits, such as health, travel, personal accident, life, and disability insurance cover. No matter the type of client opting to obtain the new coverage options, the Abu Dhabi protection market is sure to benefit from the introduction of an awarding winning expatriate insurance provider that is big on customer service and quality care. “Colin and his team will also be looking to the Abu Dhabi market, and our office in Abu Dhabi enables us to service and support brokers and clients locally,” Abuqurah added.

The expatriate workforce in Abu Dhabi and indeed the rest of the GCC remains vital to the continued economic success and development of the region. While choosing to live and work in the Gulf can often provide expatriates with a very rewarding career, failure to take out the right insurance policy that adequately protects your lifestyle will put your income and your family’s security at substantial risk in the event of illness, injury or worse. Through their new partnership with DIC, William Russell intends to mediate these risks in Abu Dhabi through their robust international insurance product portfolio.

Companies Mentioned

William Russell

William Russell is an international health insurance company, focused on providing health, life and income protection products to expatriates across the globe. Based in the United Kingdom, William Russell opened its doors in 1992 as a family-run company and since then has grown into an international company that does business with people of every nationality in over 180 countries around the world. They have central offices in the UK, Indonesia and Dubai and offer their customers a 24/7 emergency medical assistance hotline.

Dubai Insurance Company

Incorporated in 1970 by the decree of the Ruler of Dubai as a Public Shareholding Company, the Dubai Insurance Company operates as a one-stop insurance shop in the GCC region, selling general, life and health insurance policies.

HAAD

The Health Authority Abu Dhabi (HAAD) is the chief regulatory body overseeing the healthcare sector in the Emirate of Abu Dhabi. The HAAD is tasked with monitoring the health of the local population and the overall performance of the health system. In addition, HAAD defines an overall strategy for the health system, works to enforce standards, maintain performance targets and increase awareness of and encourage healthy living practices amongst Abu Dhabi residents.