Growth of Commercial Insurance in UAE Fueled by MSME Sector: Gargash Insurance

business insurance- commercial insurance- corporate insurance- Gargash Insurance brokers- UAE 02 May, 2023

Learn about the significant impact of UAE's MSME sector on the growth of commercial insurance. Get expert perspectives on insuring SMEs from this insightful article by Gargash Insurance's MD, Mr. Mustafa Vazayil.

MSMEs are crucial for the UAE and global economies, representing over 94% of companies and employing over 86% of the private sector workforce. In Dubai, SMEs account for nearly 95% of companies and contribute 40% to the city's GDP. Out of these, approximately 50% of UAE's MSMEs have insurance, while the rest hesitate due to perceived costs or considering it optional.

Essential insurance coverage for MSMEs includes physical assets, theft, liability, workmen compensation, medical insurance, and business interruption.

Read this informative article by our MD, Mr. Mustafa Vazayil, on how SMEs can benefit from investing in business insurance.

Click here to know more.


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