Business Insurance for Nigeria
Protection for travel and business in Nigeria
Nigeria is the most populous country in Africa. Unfortunately, it is fraught with crime and it can be a very dangerous place to visit. Organised crime across the country is substantial and those travelling for work or working in targeted industries such as oil are at an even greater risk.
At SJL Insurance Services, our Global High Risk and International Insurance experts can support you with the cover you need for travelling to or working in Nigeria. With an extensive knowledge of Nigeria and the country’s risks, we can ensure that you have the correct, comprehensive insurance cover to protect you when you travel.
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Did you know?
- Nigeria has the highest rate of kidnaps for ransom in Africa.
- Piracy in the Gulf of Guinea has been a global concern since 2011, with Nigeria a key target area.
- International Health & Personal Accident Insurance is essential for those travelling/working in Nigeria.
- Terrorist attacks in Nigeria are common, especially in the Northeast.
What insurance do I need for working in Nigeria?
Due to its civil unrest and history of kidnap and piracy, there are a number of insurances it’s worth having when travelling through Nigeria for work. Frequent instances of insurgency, banditry and militancy form a significant threat to Nigeria’s national security.
Kidnaps for ransom are of the highest rate in Nigeria across the whole of Africa and is the most prominent form of banditry. Kidnap and Ransom Insurance is therefore highly recommended for workers travelling through or to Nigeria. This is particularly advised for foreign nationals and oil workers.
Piracy, or maritime crime, became a global concern in 2011, with the Gulf of Guinea seeing a significant rise in armed pirates attacking ships carrying oil cargo. Maritime and Land Security Insurance is therefore particularly advised if you have oil rigs or a shipping company, transporting cargo off the coast of Africa.
The public healthcare system in Nigeria is one of the most inefficient in the world. Standards are considerably low in public hospitals; they are overcrowded and lack the level of hygiene seen in more developed countries. For workers and expats travelling to Nigeria, it is therefore essential that you have comprehensive health and Personal Accident insurance cover for private healthcare should you require it.
Do I need Maritime and Land Security Insurance for travelling to Nigeria?
With piracy seeing an increase since the 2010’s, for companies or individuals travelling for work within the shipping, cargo and oil industry, Maritime Security Insurance is highly recommended.
Attacks on shipping vessels have advanced considerably since they began, with highly targeted attacks taking place regularly by armed criminals.
Maritime and Land Security Insurance can help support and protect you should you or one of your vessels be attacked, hijacked and held to ransom, as well as protect you on land.
Do I need Kidnap and Ransom Insurance for travelling to Nigeria?
With Nigeria holding the highest kidnap rate across Africa, taking out Kidnap and Ransom Insurance for travel to the area is strongly advised.
Kidnap and Ransom Insurance at SJL provides financial protection and crisis management in the event of kidnap, hijack, extortion and wrongful detention. Having this level of protection can help resolve threatening situations quickly and assist in ensuring the safety of those involved.
Businesses and individuals who normally require Kidnap and Ransom Insurance include:
- High net worth individuals
- Sports, media, entertainment personalities
- Oil and gas companies
- Mining and extractive industries
- Construction companies
- Pharmaceutical companies
- Telecommunication companies
- Financial institutions
- Security companies
Find out more about Kidnap and Ransom Insurance at SJL or contact our team.