Bellwood Prestbury - Middle East High-Risk Insurance

In light of the escalating events in Iran and surrounding territories, many countries within the Middle Eastern and Gulf region have been placed in the highest risk insurance category for Personal Accident insurance, including places traditionally viewed as relatively low-risk.

The category of ‘Refer to Underwriter’ is in place for the foreseeable future for:

• Bahrain
• Egypt
• Iran
• Iraq
• Israel (including West Bank and Gaza)
• Jordan
• Kuwait
• Lebanon
• Oman
• Qatar
• Saudi Arabia
• Syria
• United Arab Emirates (UAE)

What does this mean if you have project or operations in these countries?

If you have people working in places like Dubai, Abu Dhabi, Doha, Kuwait or Bahrain – or you have operations in the oil & gas fields throughout the region – you may find that any standard Personal Accident insurance you have in place will no longer be valid.

It is possible for specialist high-risk brokers like Bellwood Prestbury to organise bespoke cover through specialist Lloyd’s Syndicates, but each policy will be considered on a case-by-case basis.

30-day reviews

As you might imagine, premiums are currently higher than usual but are being placed on a 30-day review basis. This means that they may come down once threats recede.

Of course, the official end of any hostilities will not immediately reduce premiums; that will only occur once it is clear that the risk of any potential state sponsored war or independent terrorist activities has reduced. This may take a longer timeframe and is likely to roll out country-by-country.

Available for advice

Bellwood Prestbury supports numerous members with high-risk policies in the Middle East and around the world. If you would like independent, no obligation advice at this uncertain time, please do reach out to Bellwood Prestbury.

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