Mandatory Professional Indemnity Insurance for Notaries, Experts, and Translators Under New UAE Laws
New UAE Laws to Boost Risk Management and Insurance Coverage for Experts, Translators, and Notaries
New Ministerial Decisions in the UAE are set to revolutionize the insurance landscape for professionals such as notaries, experts, and translators. The Decisions, numbered 208/2024, 211/2024, and 215/2024, provide clarity on professional indemnity insurance (PII) for these professions.
These Decisions mandate substantial minimum coverage amounts, particularly for policies obtained by expert and translation houses. Insurers are expected to offer policy products that meet the specific requirements outlined in the Decisions, such as minimum coverage limits and non-revocable terms.
The new laws are expected to increase demand for professional liability insurance products tailored to translators, experts, and notaries. However, the exact provisions for PII coverage are not detailed in the available search results and can only be found in the official UAE government legal gazette, Ministry of Justice publications, or the relevant licensing authority’s website.
Professional indemnity insurance is mandatory for various regulated professions in the UAE to ensure financial protection against professional liability claims. The new laws aim to encourage risk management measures to reduce claims and insurance premiums.
The insurance coverage is required for a range of perils beyond negligent practices, including defamation, dishonesty, and fraud. The required policy term is three years, reflecting the term of registration for the mentioned professionals.
The Ministerial Decisions are related to Federal Decree-Law No. 20/2022, No. 21/2022, and No. 22/2022, concerning the regulation of the Notarial Profession, Expertise Before the Judicial Authorities, and the Translation Profession, respectively.
For authoritative compliance, stakeholders should access official legal texts or regulatory guidance issued by the UAE Ministry of Justice or Insurance Authority. If you need help finding these ministerial decisions or require information on typical coverage frameworks for such professions in the UAE, feel free to ask!
- The new laws in the UAE for experts, translators, and notaries will increase the demand for business liability insurance products specific to these professions, as they require substantial minimum coverage amounts and non-revocable terms in order to comply with professional indemnity insurance (PII) mandates.
- Apart from covering negligent practices, the required insurance coverage for these professions also addresses perils such as defamation, dishonesty, and fraud, spanning a policy term of three years that mirrors the term of registration for these professionals.
