Azerbaijan insurance – specialist cover required
22 November 2010
If you are thinking of working in Azerbaijan, insurance cover needs to be specially selected to provide proper protection in this former Soviet state.
Azerbaijan, part of the Soviet bloc until 1991, is now attracting a good deal of interest from western firms. Located beside the Caspian Sea to the north of Iran, Azerbaijan is rich in oil and natural gas and many western oil companies are now engaged in extraction, refining and distribution. In addition, western mining companies are looking at the rich precious metals and mineral deposits.
For anyone planning to work in Azerbaijan, insurance is a priority, especially in high-risk occupations or remote areas, but standard insurance cover will not be sufficient.
Medical Insurance for Azerbaijan
Public health care in Azerbaijan is very poor by western standards. There are private facilities but these are limited to small clinics and even these are almost non-existent outside the capital, Baku. Expatriates should ensure that they have comprehensive, quality international health insurance. Medical evacuation and repatriation cover is essential.
International Life Insurance
Typical western life insurance policies will not be valid for extended residency in Azerbaijan. Specialist life insurance cover is needed to ensure protection.
Accidents, security and safety
Violent street crime is common in Baku. Foreign males are often targeted especially if showing indications of wealth, using an ATM or walking alone at night.
Driving in Baku is a very hazardous. Local drivers will ignore warning signs, road markings and other drivers. They will drive at high speed and often in the centre of the road. Accidents are frequent and serious. The road surface in Baku varies dramatically with many hazards such has potholes, manhole covers etc. Outside the capital the roads are in very poor repair and often unlit.
Ed Watling, one of Bellwood Prestbury’s specialist international insurance consultants explains: “For corporate clients with an expatriate workforce or individual contractors, we recommend a package of Azerbaijan insurance including medical cover, medical evacuation and repatriation cover, specialist life insurance and personal accident insurance.”
To find our more, call our expert team on +44 (0) 1242 584 558.