The Ministry of Human Resources and Social Development, in collaboration with the Insurance Authority, launched yesterday the Insurance Product to cover the entitlements of expatriate workers in private sector establishments in case of financial default.
The Insurance Product aims to protect their financial rights in the event a company defaults, and is unable to pay wages for a specified period.
The benefits include, for example, a travel ticket for expatriate workers who wish to return to their home country.
The launch of the Insurance Product is part of ongoing efforts to improve the labor market in the Kingdom through policies and regulations, to secure the contractual rights between workers and employers, and to increase the attractiveness and efficiency of the labor market, raising it to international levels.
The Insurance Product is also consistent with a package of procedures established by the ministry to protect the rights of both parties in the labor relationship, including the Wage Protection
Law and contract documentation.
The ministry has issued a guidebook that explains all the procedures related to the Insurance Product; it can be accessed through its official website.
Coverage of expatriate workers included in the Insurance Product has started on October 06, 2024.
Source: Saudi Press Agency