High Risk Insurance

Libyasecuirty

New Member
1
Hello, i own a security company in Libya, that is on contract with the Libyan government the provides security to politicians, certain government buildings, etc.

I am an American along with most of my employees, we have 50 employees working in our company.

We have been working with the Libyan government for almost a year, and we have only had two employees killed in the exchange of gun fire while they were protecting a politician.

My employees take three month shifts, one group goes to libya for three months, then they go back to the United States, then the second group comes, etc.

I was wondering if there would be any insurance company that would cover us globally, as well that would cover such a high risk business.

What we are looking for is an insurance that we could put life insurance on all our employees, if one employee dies, then we will get the insurance money, and we can give his family some money, as well as being able to afford the cost to train a new employee to take his place, as well as getting a replacement for him to Libya as quickly as possible. We should be able to choose how long we want insurance on each employee for, for example 3 to 6 months. We are also looking for insurance where we can cover someone from 100 thousand to 250 thousand dollars.

Is there any insurance companies like this that someone can point me to? If so, will they cover a Libyan business, and if not would they then cover a business that is located out of the United States?
 
Only two? Man, that's awesome.

Wonder if that's part of the pitch at job fairs... "Just 4% of our employees get killed each year." :err:

So besides making light of how dangerous it is trying to protect at-risk individuals in the middle east... my first thought is Lloyd's of London. It may end up being that a simple AD&D (accid death/dismemberment) coverage and/or Permanent Total Disability coverage is your most realistic option, instead of full underwriting in a life insurance policy. But that's what I'd be looking for if it was my company.

Plus, I'm sure you aren't the only game in town, wherever you are. Talk to any other contractors and see who their insurance is through. Your niche in the market is a relatively small one.
 
Hello, i own a security company in Libya, that is on contract with the Libyan government the provides security to politicians, certain government buildings, etc.

I am an American along with most of my employees, we have 50 employees working in our company.

We have been working with the Libyan government for almost a year, and we have only had two employees killed in the exchange of gun fire while they were protecting a politician.

My employees take three month shifts, one group goes to libya for three months, then they go back to the United States, then the second group comes, etc.

I was wondering if there would be any insurance company that would cover us globally, as well that would cover such a high risk business.

What we are looking for is an insurance that we could put life insurance on all our employees, if one employee dies, then we will get the insurance money, and we can give his family some money, as well as being able to afford the cost to train a new employee to take his place, as well as getting a replacement for him to Libya as quickly as possible. We should be able to choose how long we want insurance on each employee for, for example 3 to 6 months. We are also looking for insurance where we can cover someone from 100 thousand to 250 thousand dollars.

Is there any insurance companies like this that someone can point me to? If so, will they cover a Libyan business, and if not would they then cover a business that is located out of the United States?

It may actually be possible with some of the failure to survive policies available out there...There is a company that will put together customized coverage based on specific details of jobs, locations, duties, etc..but they are individual policies, pricing based on insured's age. They also offer kidnap and ransom coverage.
 
Back
Top