Life insurance – Libya
19 November 2010
When it comes to insurance, Libya is one of those areas of the world where specialist cover is highly recommended.
When one of our corporate clients sadly lost an employee in Libya recently, they were relieved to learn that we had provisioned for specialist life insurance: Libya is not covered by standard insurance arrangements.
Getting anything done in Libya requires a great deal of paperwork and can take months. Our client’s employee, who had died in a road traffic accident, was an expatriate from the Middle East. The company’s HR department was in the US. The insurance company was based in Guernsey. All of the paperwork regarding the incident was in Arabic. This made settling the claim a highly complex business.
As well as the time zone and language issues, the company personnel and the family were understandably distressed. We were able to use our relationship with the insurance company to settle the claim quickly, ensuring that our client and the family involved received full and final settlement, free from bureaucracy.
If you have employees in Libya we thoroughly recommend specialist insurance. Libya is regarded as a high-risk area for medical, life and personal accident insurance. You can find out more about Libya insurance here.