Despite intensifying conflict in Somalia some businesses have been thriving and expanding while others have upended their businesses and moved elsewhere. Warring clan rivalries have intensified despite the withdrawal of Islamist militants from the strategic port city of Kismayu, signifying that the country still has a long road to peace. The fragmentation of various factions vying for power has caused chaos and confusion.
Kidnapping and ransom are rampant, particularly along the coastline where pirates have taken control of various port towns. Explosive incidents involving hand grenades and land mines have been reported throughout the country. Kenyan forces have stepped in to protect their country’s tourism and trade but they have done nothing to quell the violence. Expat Financial is a key resource for companies in need of Somalia insurance. We have extensive experience in sourcing a variety of insurance plans for people who are residing in Somalia, including plans which cover war and terrorism risks. This all being said, there have been significant improvements made in Somalia with more and more expats being posted in the country and an improved business climate.
Despite some advances, the medical system in Somalia is very basic so it vital that expatriates obtain medical treatment outside of the country. Having a medical evacuation plan is vital.
Here is a list of different types of insurance coverage you will want if you are planning to venture into Somalia:
- War & Terrorism Insurance
- Personal Accident Coverage
- International Health Insurance
- Group Benefit Plans for Expatriates
- Kidnap & Ransom Coverage
- Life and Disability Insurance
If you require a quote for your expat staff in Somalia, please contact Expat Financial today for a quote. Please send along any relevant risk information that may be available as this can assist in obtaining quotes from the market.