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UAE: New insurance policy reportedly covers worker wages & benefits in case of co. bankruptcy or failure to pay dues

Looking at Abu Dhabi

"New penalty for companies in UAE tat don't pay salaries on time," 13 Apr 2021

Empowering the UAE labour force, the Ministry of Human Resources and Emiratisation (MoHRE) has introduced a new penalty for private sector companies that don’t pay salaries to its employees on time...

any employer failing to pay their employees on time, will have to shell out more than double the insurance policy of an employee...

upon recruiting a new employee, the employer has the option to either submit Dh3,000 as bank guarantee on behalf of the employee, as per the rules and regulations of the bank guarantee system, or insure them under the new insurance policy, which costs Dh120 for two years.

In case of company’s bankruptcy or failure to pay the employees’ benefits, the new policy will provide a maximum insurance coverage of Dh20,000 per employee against [a number of] benefits in the workplace