Insurance Sector Briefing from Al Baraka Insurance Company

AmCham was pleased to host an online discussion with AmCham Member Al Baraka Insurance Company to learn about available insurances in the Libyan market. Insurance is absolutely vital when proceeding with business ventures, and in particular, for international companies that are accustomed to a well-developed insurance market and may have standard requirements regarding what policies need to be in place. Topics discussed included a summary of the policies available from Al Baraka including  medical/health, vehicles/fleet management, liability (product/employer/professional indemnity, etc), construction sector (contractors all risk, erection all risk, etc.), marine, aviation, fire, investments (business interruption, risk of war, advance loss of profit, currency convertibility, expropriation, breach of contract, etc.) In addition, a brief description of the claims process was presented.