Business insurance · Qatar
Qatar Insurance Company (QIC)
Qatar-based insurer writing Contractors/Erection All Risk and Plant & Equipment cover
Market position
Qatar Insurance Company (QIC), listed on the Qatar Stock Exchange, says it was set up in 1964 as the first domestic insurer in Qatar, and it now operates in several GCC markets and Europe. Its commercial page lists Contractors/Erection All Risk and Plant & Equipment insurance alongside liability, professional indemnity and workmen's compensation, and says engineering insurance specialists review project proposals.
Qatar-specific note
Contractors in Qatar can place Contractors/Erection All Risk, plant, liability and workmen's compensation cover with QIC under one Qatar Central Bank licensed insurer. If a contract names a minimum insurer rating, ask QIC for its current rating letter.
Pros
- + Contractors/Erection All Risk and Plant & Equipment cover on its commercial page
- + Workmen's compensation, third-party liability and professional indemnity from the same insurer
- + Engineering insurance specialists review project proposals (QIC's statement)
Cons
- − No public premiums; quote only
- − Commercial range is aimed at company and project accounts
- − No takaful (Sharia-compliant) option found on its site
Typical Qatar pricing
Quote-based; no public prices on QIC's commercial insurance pages.
Why this matters for Qatar trades
The Ministry of Finance’s Monaqasat portal requires classification, with an audited balance sheet, before a company can take part in government tenders. The General Tax Authority administers income tax (10%), withholding tax and excise tax through its Dhareeba portal; Qatar has no VAT as of September 2026, and EY reports that the GTA will run e-invoicing under the draft law. Law No. 12 of 2024 requires employers to report vacancies and salaries to the Ministry of Labour and to fill designated jobs with Qatari nationals. The Ministry of Municipality issues building permits through an AI-based system launched in October 2025; QCS 2014 applies to all buildings under construction, according to The Peninsula, with Ashghal adding Interim Advice Notes on its own projects; and Kahramaa publishes lists of authorized electrical and water contractors and licenses solar PV contractors.
Qatar construction and trades software selection is shaped by Monaqasat classification for government tenders, the Qatar Construction Specifications (QCS 2014), Ashghal’s tendering and prequalification for public works, the Qatarization law (Law No. 12 of 2024), and the tax position: Qatar has not introduced VAT, and a draft e-invoicing law approved on 6 May 2026 had no official go-live date by 30 September 2026.
Frequently asked
Is Qatar Insurance Company (QIC) a good fit for Qatar trades?
Qatar Insurance Company (QIC), listed on the Qatar Stock Exchange, says it was set up in 1964 as the first domestic insurer in Qatar, and it now operates in several GCC markets and Europe. Its commercial page lists Contractors/Erection All Risk and Plant & Equipment insurance alongside liability, professional indemnity and workmen's compensation, and says engineering insurance specialists review project proposals. Contractors in Qatar can place Contractors/Erection All Risk, plant, liability and workmen's compensation cover with QIC under one Qatar Central Bank licensed insurer. If a contract names a minimum insurer rating, ask QIC for its current rating letter.
What does Qatar Insurance Company (QIC) cost in Qatar?
Quote-based; no public prices on QIC's commercial insurance pages. Pricing and availability can change by region; confirm current Qatar pricing on the vendor's site before committing.