Bayshore at InterContinental Abu Dhabi. Courtesy InterContinental Abu Dhabi
Bayshore at InterContinental Abu Dhabi. Courtesy InterContinental Abu Dhabi

InterContinental Abu Dhabi launches Beach Club



InterContinental Abu Dhabi has announced the launch of Bayshore, their private beachfront retreat in their marina. Located just five minutes from the Corniche, Bayshore has 300m of private beach, an infinity pool that overlooks the Arabian Gulf, swim-up bar, an open air Jacuzzi, children’s pool (complete with water slide), play area and seven cabanas for rent. It also features health and sports facilities, a day spa and an 80-seat restaurant.

InterContinental Abu Dhabi Resident Manager Mr Khaled Zaki says, “With a full suite of health, fitness and relaxation facilities, and with its own private marina setting, the Bayshore is an oasis of calm in the bustling heart of the city and offers bespoke spaces for everyone to enjoy, from business travellers looking to unwind to families enjoying their weekend.”

Hotel guests will enjoy Bayshore’s amenities with the cost of their room. Non-hotel guests can take advantage of this new retreat with a day pass. A single weekday pass is Dh150 for an adult and Dh80 for a child. A couples pass is Dh270. Prices are slightly higher on the weekend. There are also several membership packages available.

For membership and more information, call 02 693 5285 or email recreation.icabudhabit@ihg.com.

 


 

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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Sector: Sustainability
Total funding: Self funded
Number of employees: 4
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
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Director: Neeraj Pandey

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Bio Box

Role Model: Sheikh Zayed, God bless his soul

Favorite book: Zayed Biography of the leader

Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet

Favorite food: seafood

Favorite place to travel: Lebanon

Favorite movie: Braveheart

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Director: M Night Shyamalan

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● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

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Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
JERSEY INFO

Red Jersey
General Classification: worn daily, starting from Stage 2, by the leader of the General Classification by time.
Green Jersey
Points Classification: worn daily, starting from Stage 2, by the fastest sprinter, who has obtained the best positions in each stage and intermediate sprints.
White Jersey
Young Rider Classification: worn daily, starting from Stage 2, by the best young rider born after January 1, 1995 in the overall classification by time (U25).
Black Jersey
Intermediate Sprint Classification: worn daily, starting from Stage 2, by the rider who has gained the most Intermediate Sprint Points.

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)