Bellwood Prestbury are supporting Contractors in Kurdistan
6 September 2013
A reasonable level of stability has returned to Iraq and the Kurdistan Region has developed rapidly into an attractive and flourishing economy. Kurdistan is now an important regional trading hub, with substantial business links across the Middle East and Turkey.
The construction sector is booming with high quality housing in demand. Major building projects have been announced for the development of the region including sports stadiums, sports centres and hotels. The transport sector is also experiencing solid growth with projects underway for a new airport and improved road links, railways and tramways.
Many businesses have been quick to seize the economic opportunities offered in Kurdistan; in 2012 the United Kingdom possessed the fourth largest contingent of foreign companies registered in the region, and the Kurdistan Government is encouraging more UK companies into the rapidly growing construction sector.
Bellwood Prestbury are already supporting an increasing number of companies visiting and operating in Kurdistan by offering bespoke insurance packages that protect businesses and their employees whilst operating in the region. Although the current government guidance does not advise against travel to the Kurdistan region, foreign companies still face many risks: air strikes and shelling in the border areas with Turkey and Iran still occur and day to day movement is restricted. As a result, foreign companies nearly always travel with close security protection teams. Road travel outside main towns remains highly dangerous and there continues to be fatal roadside bombings, attacks on civilian vehicles and frequent, fatal road traffic accidents.
With proven expertise in regions such as Kurdistan, Iraq, Afghanistan, Syria and across Africa, Bellwood Prestbury can help provide insurance where standard cover will not be valid.
To find out more about the international Kurdistan and Iraq insurance packages that Bellwood Prestbury can provide, please call +44 (0) 1242 584 558 or contact us today.