High-Risk Income Protection Insurance for an Oil & Gas Contractor in Iraq
Bellwood Prestbury have come to the rescue of an oil and gas contractor due to start a contract in Iraq.
The contractor needs an insurance policy which would replace her income if she has an accident or illness which stops her from working and therefore earning. The tricky bits are: 1) the cover must be valid whilst working in Iraq, and 2) terrorist attacks must be covered.
The contractor had tried all the well-known insurers and they all gave her the same response: we’re not able to assist as we will not insure anyone in Iraq.
In desperation, the contractor turned to the internet to seek out a specialist that could help. The contractor searched on ‘insurance for Iraq’ and found Bellwood Prestbury.
As soon as the contractor contacted Bellwood Prestbury, their team of experts knew they could help and reassured the contractor accordingly. Bellwood Prestbury immediately arranged international income protection insurance through Lloyd’s of London. The bespoke income replacement plan included a monthly income amount to cover day-to-day living costs and a one-off lump sum, should the insured be permanently totally disabled and unable to work again.
Bellwood Prestbury specialise in providing bespoke insurance solutions to contractors working in high-risk occupations and/or remote locations, from offshore oil & gas engineers to land-based armed private security contractors; and in countries such as Afghanistan, Iraq and Somalia, classified as too high-risk by other insurers.
Stuart Dix, Global Insurance Consultant at Bellwood Prestbury, explains: “We can provide insurance which is vital for overseas contractors to be properly protected. In the event of an accident or serious illness, if they lose their income, they stand to lose a lot more. Through our strong relationship with Lloyd’s of London, we are able to offer a bespoke product which, crucially, is valid in war zones, terrorist hot spots and post-conflict regions.”
If you pursue a hazardous occupation or your work takes you to remote or dangerous places, Bellwood Prestbury are experts at arranging high-risk income protection insurance cover. To find out how we can help you, please call our team of experts on +44 (0) 1242 584 558.
Categories: Expat and international income protection