New payroll, leave insurance reforms begin next week Business

New payroll, leave insurance reforms begin next week

MUSCAT: Employers across Oman will face new payroll and leave-management requirements from Sunday, July 19, when the insurance branch covering sick and other leave begins operating under the Social Protection Law. The scheme introduces a contribution equal to 1 per cent of each covered worker’s contribution wage, paid entirely by the employer. Employees will not […]

FSA mandates minimum EV insurance coverage by end-2026 National

FSA mandates minimum EV insurance coverage by end-2026

Muscat: The Financial Services Authority (FSA) has issued a circular requiring all insurance companies licenced to provide motor insurance in Oman to maintain a minimum level of electric vehicle (EV) insurance underwriting relative to the size of their motor insurance portfolios. Under the circular, insurers must ensure that EV insurance policies account for no less […]