Venezuela Insurance

It is critical that you have specialist Venezuela insurance in place before travelling or operating in this beautiful yet deeply troubled country. Whatever the purpose of your visit, it is wise to be aware of the potential dangers caused by the current political crisis and to ensure that your Venezuela insurance provides the right level of protection.

Dangers you might encounter in Venezuela

Venezuela is a country whose natural wonders range from snow capped Andean mountains, to Amazonian jungle and the world’s longest stretch of Caribbean coast. It also boasts huge mineral wealth in the form of oil, coal, bauxite and gold. Yet despite all this, it has been plagued by crime, poverty and economic and political insecurity.

The unstable political situation, rampant inflation and a failing economy can lead to uncertainty in business and on the streets. The FCDO currently advises aganst travel. If you are doing business here or you are importing exporting, Trade and Political Risk insurance may be worth considering.

Large-scale political demonstrations often take place across Venezuela and can lead to violent clashes. You are advised to avoid demonstrations if you can.You should be aware of the potential hazards and take out appropriate Venezuela insurance. You should also keep updated with local and FCDO advice and review your security arrangements throughout your stay.

Violent street crime is widespread, and while petty crime, such as pick pocketing and bag snatching are rife, far more worrying is the high incidence of armed robbery. It’s wise not to carry much in the way of valuables and have a small bundle of decoy notes to hand over. Don’t try to resist an attacker as this has resulted in victims being shot.

‘Express kidnapping’ – where people are grabbed off the street and forced to empty bank accounts – armed mugging and carjacking are a frequent occurrence. With regard to this, cover for Kidnap and Ransom should be included in your Venezuela insurance.

Do not have anything to do with illicit drugs. Venezuela’s penalties are severe and its prisons extremely dangerous. Areas near the Colombian border must be avoided due to the activity of drug traffickers and armed militias.

Comprehensive International Health insurance in Venezuela is essential. Sanitation can often be poor and waterborne diseases, including cholera, can easily occur. In remote areas where health facilities are sparse it is especially important that you have Medical Emergency Evacuation cover.

Mariners should be vigilant as there have been numerous incidents of piracy in Venezuelan waters. Maritime Security insurance can be arranged for crews and cargoes.