Leading insurance broker Nexus Group has hailed Dubai Government’s recently announced compulsory health insurance scheme for workers in the emirate.

Nexus said the new health insurance law, which will be rolled out in phases up until 2016, will not only spark businesses with no cover into action, but also prompt some employers to bolster their existing benefits packages.

“This is a hugely encouraging and progressive move by Dubai’s Government, and will provide workers across the emirate with a vital safety-net,” remarked Duncan Crerar, the head of Employee Benefits, Nexus Group.

“People are an organisations’ most valuable asset, so the new law is all about protecting employee well-being and ensuring they can contribute to sustainable, long-term business success,” he stated.

Crerar pointed out that the companies already planning to implement or renew health insurance offerings should not delay to see how the new legislation plays out.

“If you have the capacity to offer health insurance to your workforce now, you should continue as before,” he added.

“Seek professional advice and get the plans in place. Protecting your workers has countless benefits - not least making them more secure, productive and loyal,” he added.

Over time, Crerar predicted that the new legislation could influence businesses in Dubai to ramp up and diversify their other key benefit offerings.

“Dubai is a hugely competitive job market, and health insurance has always been top of a job seeker’s wish-list. Once this legislation is rolled out, the onus will be on employees to take their benefit packages to the next level,” he explained.

Last month, Nexus Group announced that its 2013 employee benefits sales had grown 28 per cent compared to 2012.

“With an extensive health insurance record in the region, Nexus is ideally placed to guide employers in what is set to be an evolving and game-changing process,” remarked Crerar.

“Invariably, it will be the businesses that treat the new legislation as an opportunity rather than an obstacle that will see the biggest rewards.”

Nexus Group’s reputation in the region is largely built on a long history of attracting and retaining some of the most talented consultants in the industry. This is supported by arguably the Mena region’s most rigorous and extensive consultant training programme.-TradeArabia News Service