Egypt insurance – protecting your assets and your people
1 June 2015
Egypt is on heightened security alert following the handing down of preliminary death sentences to the former president Mohamed Morsi and a 100 others. The government is said to expect weeks of civil unrest, and Islamic State has declared a new front for their insurgency within the country.
Egypt has been an uncertain security prospect for sometime and anyone operating there will know that high-risk insurance is an important consideration.
In the days following Morsi’s sentencing, an audio statement was released by an affiliate IS group called Sinai Province calling for attacks on members of the judiciary in retaliation for mass death sentences and long jail terms against fellow Islamists and followers of the deposed president.
Since Morsi was ousted from office by the military in July 2013, his party, the Muslim Brotherhood, has been declared a terrorist organisation. The new government of former general, Abdul Fattah al-Sisi, has cracked-down harshly on any opposition.
Business premises targeted
The threat from terrorism seems to be increasing and though most attacks have been focused on security forces, since February 2015 Egyptian and international business premises have also been targeted in Cairo and Alexandria.
Current Foreign and Commonwealth advice is against all travel to North Sinai and all but essential travel to within 50km of the Libyan border and the area west of the Nile Valley. South Sinai should also be avoided except the area within the Sharm el Sheikh perimeter.
Anyone considering operating in Egypt should keep up to date with both the local and national security situation and ensure that they have appropriate levels of business and travel insurance. Standard policies may well not be adequate. Avoid public demonstrations and other potentially dangerous situations and be aware that there is a high incidence of rape and sexual assault. There have also been incidents of kidnapping, particularly in remote areas.
High-risk Egypt insurance
Bellwood Prestbury has long experience of providing high-risk Egypt insurance to those working in the country’s most dangerous regions and industries. We work with companies, NGOs and individuals, and can tailor each policy to the needs of each client.
We can protect, your assets, your people and your reputation with robust cover that will remain effective in the event of a deteriorating political or security situation. We can also advise on kidnap and ransom insurance where appropriate.