7 ways organisations can protect overseas personnel with crisis management insurance

In an increasingly volatile world, organisations with personnel operating in geopolitical hotspots face unprecedented risks. From armed conflicts and political unrest to kidnappings and terrorist threats, the safety of overseas staff is a paramount concern. Crisis management insurance offers a vital safety net, ensuring that organisations can respond effectively to emergencies and protect their most valuable assets – their people. Costero Brokers specialises in providing tailored crisis management insurance solutions, offering expertise and support to navigate these complex challenges.

Navigating the risks of global operations in threat zones

Deploying personnel to regions fraught with instability presents multifaceted challenges for many kinds of organisations, such as:

• Multinational corporations (MNCs): Large companies with global operations often send staff to manage projects, oversee supply chains, or set up new offices in regions that may experience instability.
• Manufacturing and construction Firms: Companies producing goods or involved in building infrastructure, such as roads, bridges, or factories, often send project managers, engineers, and technical experts to regions that might be experiencing political or social unrest.
• Energy and mining companies: Firms in the oil, gas, and mining sectors frequently have operations in remote or geopolitically sensitive areas, requiring them to station personnel on-site.
• Media organisations: News agencies and media outlets send journalists, photographers, and support staff to cover stories in conflict zones and areas of political unrest.
• Non-governmental organisations (NGOs) and non-profits: Humanitarian and development NGOs often operate in conflict zones to provide aid, education, and infrastructure support.
• Healthcare organisations: International healthcare providers and medical charities may send doctors, nurses, and support staff to provide care in crisis zones.

Facing a global landscape of evolving risks

All these kinds of organisations often face risks from operating in areas where the geopolitical situation is unpredictable. Recent events underscore the severity of these risks (source: S&P Global):

• Middle East conflicts: The escalation of hostilities in certain regions and the broader Middle East has disrupted many international organisations’ operations and endangered personnel.
• Russia-Ukraine war: The ongoing conflict has not only affected the immediate area but has also had ripple effects on global security and economic stability.
• Kidnapping incidents: Recent years have seen a notable increase in kidnapping cases targeting foreign workers and executives in various regions, including parts of Africa and Latin America.

Evolving regional risk situations like these highlight the critical need for organisations to adopt comprehensive crisis management strategies – to safeguard their personnel working overseas and maintain operational continuity. A key element of such a strategy is specialist crisis management insurance.

Let’s consider 7 ways crisis management insurance can help protect an organisation’s overseas personnel:

1. Access to crisis management experts

Having immediate access to crisis management professionals can be invaluable for an organisation’s leaders and overseas employees. Insurance coverage can provide:

• 24/7 support: Round-the-clock assistance from crisis response teams.
• Strategic guidance: Expert advice on handling complex situations.
• Training and preparedness: Resources to educate staff on risk mitigation.

These services empower organisations to prepare against and respond effectively to crises, safeguarding personnel and assets.

2. Protection against political violence and terrorism

Operations in unstable regions are susceptible to political violence and terrorist acts. Insurance coverage can include:

• Property damage: Compensation for damages resulting from riots, strikes, or terrorist attacks.
• Business interruption: Coverage for losses due to operational disruptions.
• Security assessments: Risk evaluations to inform safety protocols.

This protection helps organisations improve safety, mitigate financial losses and resume operations promptly.

3. Kidnap and ransom coverage

In many high-risk regions, the threat of kidnapping is an everyday reality for overseas workers. Crisis management insurance for kidnap and ransom incidents can provide organisations with:

• Expert response: Access to seasoned crisis response consultants who guide organisations through negotiations and recovery efforts.
• Financial protection: Coverage for ransom payments, extortion demands, and associated costs.
• Repatriation services: Arrangements for the safe return of affected individuals.

This coverage ensures that organisations can respond swiftly and effectively to kidnap incidents, minimising harm and disruption.

4. Coverage for active assailant incidents

The occurrence or threat of active assailant incidents (involving use of firearms, knives or other weapons) necessitates specific coverage, including:

• Medical expenses: Compensation for injuries sustained by employees.
• Psychological support: Access to counselling services for affected individuals.
• Liability protection: Coverage for legal liabilities arising from such incidents.

This comprehensive cover addresses both the immediate and long-term impacts of such traumatic events.

5. Support for denial of access and loss of attraction

Crises can lead to restricted access to facilities or deter clients and partners. Insurance solutions can offer:

• Financial compensation: Coverage for losses due to decreased footfall or access restrictions.
• Operational support: Assistance in maintaining business continuity during disruptions.

This support helps organisations navigate the logistical and economic challenges posed by crises.

6. Evacuation and repatriation assistance

In the event of sudden political upheaval war or natural disasters, timely evacuation is crucial. Insurance solutions can offer:

• Emergency evacuation: Coordination and funding for the rapid removal of personnel from danger zones.
• Travel arrangements: Logistical support for transportation and accommodation during crises.
• Medical support: Access to medical care and evacuation if necessary.

These services are vital for ensuring the safety and well-being of affected staff during regional emergencies.

7. Tailored solutions for evolving risk profiles

Recognising that each organisation has unique needs and faces ever-changing risks, flexible and dynamic crisis management insurance can provide:

• Customised policies: Coverage tailored to specific operational risks and geographic exposures.
• Flexible terms: Adaptable coverage options to suit various organisational structures.
• Scalable solutions: Policies that grow with the organisation’s expanding global footprint.

This adaptability ensures comprehensive protection aligned with organisational objectives.

Partnering with a crisis management expert for comprehensive protection

Navigating the complexities of global operations and regional risks requires a trusted partner. Costero Brokers brings extensive experience in crisis management insurance, offering:

• Expertise: In-depth knowledge of global risks and insurance solutions.
• Customisation: Tailored policies that align with your organisation’s specific needs.
• Support: Dedicated assistance throughout the policy lifecycle, from risk assessment to claims management.
• Agility: Through our terrorism portal, you can quote and bind a terrorism risk within around 60 seconds.

We work closely with specialist syndicates at Lloyd’s of London, and leading global reinsurers, to create bespoke insurance solutions for each client.

Whether you’re an insurer, broker, MGA or directly responsible for protecting an organisation and its overseas personnel, now is the time to take proactive measures. With specialist insurance solutions from Costero Brokers, organisations can enhance their resilience and ensure the safety of their personnel in an unpredictable world.

Talk to our Crisis Management team today about insurance protection for organisations and overseas personnel in global high-risk zones. To find out more, get in touch with our expert, Freddie Tyler at Costero Brokers.