Please check below to see our response to several frequently asked questions. Please feel free to contact us with any addition query you may have using Contact Us

General FAQs

The Financial Services Sector has strict rules in respect of Sanctions and Money laundering. By supplying us with the information we have requested we are able to run sanctions checks for sanctioned companies and individuals. We must do this to comply with Iraqi Government and Global Sanctions legislation. Our reinsurers, when reinsurance is purchased also request the same information about you from us which is another reason we request it as without this we would be unable to obtain reinsurance and therefore be unable to offer you cover.

Occasionally we will request further information to assist in sanctions checks. This is not unusual as many people and sometimes companies, share the same name as an individual or entity appearing on a sanctions list. The additional information assists in making sure the correct entity or Individual is approved or rejected.

The contract along with the Statement of Work and if available Project Plan, provides us with information as to what you are doing. This information is key to the underwriting process and will normally contain the Material Information that you have a duty to disclose to us. We are sometimes within the contract asked to assume ‘Liability assumed under Contract’ and/or ‘Cross Liabilities’, and to do this  we have to have sight of the contract to understand exactly what risk is being transferred from you to us as your insurer and in turn for us to transfer the risk to reinsurers.

We understand this which is why we are prepared to sign non-disclosure agreements which make it clear what we do with your data and who has sight of it. If you are still reticent about supplying the contract Contact Us to see what we are able to do.

Yes. As a fully licenced Insurance and Reinsurance company we are regulated by the Iraqi Diwan who annually renew our licence. All Insurance/Reinsurance companies and Brokers (Insurance and Reinsurance) who state they are regulated in Iraq are issued a licence which is renewed on an annual basis with a licence confirmation for the current year issued.

We accept a number of currencies these being Iraqi Dinar (IQD), US Dollar (USD) and Euro. We do not accept other currencies for Premium Payment.

No, we do not accept crypto currencies of any sort for payment.

All our policies contain the following which makes it clear how your data is utilised by us and others:

"How we use your information:

The information supplied to us by you may be held on computer and passed to other insurers and reinsurers for underwriting and claims purposes.

We may use your information for underwriting and claims purposes, statistical analysis, management information, market research, audits on the handling of claims, systems integrity testing and risk management.

We will only share your information as described in this notice or where we are required or allowed to do so by law.

We may record or monitor telephone calls for security and regulatory purposes.”

In certain claims circumstances we use standard industry protocols which enable us to provide ‘sanitised’ data where the claimants details are removed so as not to make the individual person identifiable.

We do not release or share information except under the circumstances shown above.

Energy Sector FAQs

We can offer a range of cover to meet the insurance needs for a renewable energy company or project either starting up or with completed operations in Iraq. Click on the ‘Renewable Energy Tab’ for specific information or Contact us for more information.

Provided we have enough information about the risk which needs to include the project specification and any relevant financial information we can sometimes, but not always provide a Very rough Indication of costs.

This is not a quotation, is non binding and to confirm a bindable figure is subject to all underwriting information being supplied.

Where we are being asked to offer a VRI or with full information a Quotation, for projects that may not start for a considerable period we cannot commit pricing as reinsurance rates can and do fluctuate in Iraq due to the current regional geopolitical issues.

It depends on many factors including the class of business, sector the Insured operate in, financial security requirements. We use recognised reinsurance markets to provide our capacity which would normally be S&P A- or equivalent or higher. 

Yes, we can and do arrange surveys of risks that we cover. Our survey partners provide survey services throughout the MENA and wider region for both the petrochemical and retail sectors to Internationally acceptable standards. Contact us to discuss your survey requirements.

A claims experience is important integral part of the underwriting process. One of the misconceptions is that by not supplying the claims experience you will get better terms. The opposite is true as with no claims experience, we and our reinsurers must rely on industry standard data and will always err on the side of caution regarding rating. 

Insurance can be complicated to arrange correctly in line with contract terms and conditions, we will often need to talk to our reinsurers many of whom are in different time zones and have different working weeks. 

We also need to assess the data supplied, ask questions for additional/clarification of information if required and for some specific classes with high claims frequency have an actual model run. We cannot do these in a 24-48 hour period and provide anything like our best terms. 

Larger more complex risk will usually require a minimum of 14 days produce terms, preferably longer for more complex risks. In this time period - we have to raise questions, you to supply answers, potentially obtain a survey if one is required, contact reinsurers, obtain and assess their terms in line with our requirements and that of the contract, prepare the quotation and answer any items raised in the RFQ, then finally present terms.

Construction Sector FAQs

This is not unusual issue to arise, especially with the current global issues around covid and travel restrictions on key staff or availability of key equipment, materials, or components due to delays in the supply chain. Extensions to cover can be arranged however you will be asked to provide up to date information as to the state of the works and the project revised finish date.

We will need substantially more information concerning extensions to cover where work on sites has or will be fully suspended for any period.

Provided we have enough information about the risk which needs to include the project specification and any relevant financial information we can sometimes, but not always provide a Very rough Indication of costs. 

This is not a quotation, is non binding and to confirm a bindable figure is subject to all underwriting information being supplied. 

Where we are being asked to offer a VRI or with full information a Quotation, for projects that may not start for a considerable period we cannot commit pricing as reinsurance rates can and do fluctuate in Iraq due to the current regional geopolitical issues.

Yes, we can and do arrange surveys of risks that we cover. Our survey partners provide survey services throughout the MENA and wider region for both the petrochemical and retail sectors to Internationally acceptable standards. These cover the construction aspects of the risk but can be extended to include operational aspects if so required. Contact us to discuss your survey requirements.

Yes, both types of construction policy can have Construction Plant and Machinery included within your Insurance Policy. Alternatively, if you have plant and Machinery which floats over a number of sites that you are working on a standalone Contractors Plant and Machinery Policy may be more appropriate and also a more cost-effective option Contact us for more details or take a look at the specific Key Facts under the ‘Construction’ Sector button.

Ideally we would prefer you to use the form that can be found here for Contractors Plant and Machinery if you are unable to do this then provided you can supply the same information as requested in our downloadable schedule in a legible format (word, XL or PDF document) we can transfer and use that information to underwrite your Contractors plant risk.

It depends on many factors including the class of business, sector the Insured operate in, financial security requirements. We use recognised reinsurance markets to provide our capacity which would normally be S&P A- or equivalent or higher.  For smaller domestic projects or for our retention on larger projects have a facility we can utilise.

Usually No. It is not unusual for the contract to specify several interested parties to be named as Additional Insureds. We may ask for proof of insurable interest for an Additional Insured but this happens rarely as it is usually clear in the contract where interest lies.

A claims experience is important integral part of the underwriting process. One of the misconceptions is that by not supplying the claims experience you will get better terms. The opposite is true as with no claims experience, we and our reinsurers must rely on industry standard data and will always err on the side of caution regarding rating.

Insurance can be complicated to arrange correctly in line with contract terms and conditions, we will often need to talk to our reinsurers many of whom are in different time zones and have different working weeks. 

We also need to assess the data supplied, ask questions for additional/clarification of information if required and for some specific classes with high claims frequency have an actual model run. We cannot do these in a 24-48 hour period and provide anything like our best terms. 

Larger more complex risk will usually require a minimum of 14 days produce terms, preferably longer for more complex risks. In this time period - we have to raise questions, you to supply answers, potentially obtain a survey if one is required, contact reinsurers, obtain and assess their terms in line with our requirements and that of the contract, prepare the quotation and answer any items raised in the RFQ, then finally present terms.

Liability Sector FAQs

Provided we have enough information about the risk which needs to include the project specification and any relevant financial information we can sometimes, but not always provide a Very rough Indication of costs. 

This is not a quotation, is non binding and to confirm a bindable figure is subject to all underwriting information being supplied. 

Where we are being asked to offer a VRI or with full information a Quotation, for projects that may not start for a considerable period we cannot commit pricing as reinsurance rates can and do fluctuate in Iraq due to the current regional geopolitical issues.

We are normally able to provide the clauses that are specifically requested within a contract unless they are unreasonable or simply not applicable to the class of business, in either case you will be advised. We will always on liability polices request a copy of the contract to ensure we understand what we are providing cover for see General FAQ above ‘You ask for a copy of the contract why is this relevant to an insurance policy?’ which explains why this is request is relevant.

Only if you have specifically declared that cover is required for them at the time the cover was incepted and under the definition of insured, they have been specifically added and all payments to them have been declared. You must check your contract terms and conditions with the principal as you may be responsible for ensuring that certain subcontractors or all of them carry back to back insurance for the work they are doing for you (their own insurance policies) Contact us to assist.

For Liability covers where the limit of Indemnity exceeds USD1m we use recognised reinsurance markets to provide our capacity which would normally be S&P A- or equivalent or higher. Our main reinsurers for this class of business are S&PAA- rated.

A claims experience is important integral part of the underwriting process. One of the misconceptions is that by not supplying the claims experience you will get better terms. The opposite is true as with no claims experience, we and our reinsurers must rely on industry standard data and will always err on the side of caution regarding rating. 

Insurance can be complicated to arrange correctly in line with contract terms and conditions, we will often need to talk to our reinsurers many of whom are in different time zones and have different working weeks. 

We also need to assess the data supplied, ask questions for additional/clarification of information if required and for some specific classes with high claims frequency have an actual model run. We cannot do these in a 24-48 hour period and provide anything like our best terms. 

Larger more complex risk will usually require a minimum of 14 days produce terms, preferably longer for more complex risks. In this time period - we have to raise questions, you to supply answers, potentially obtain a survey if one is required, contact reinsurers, obtain and assess their terms in line with our requirements and that of the contract, prepare the quotation and answer any items raised in the RFQ, then finally present terms.

PA Travel Sector FAQs

For non-annual, trip specific cover; If your travel plans change or you need to make any other amendments to your travel insurance policy, All you need to do is Contact us and provide us with the following information:

  • Policy number
  • Date policy purchased
  • Amendments you wish to make

We will then send you an e-mail confirming that the amendments have been made, attaching the updated policy documentation.

Essentially, the difference is, travel insurance covers treatment in the event of an emergency, whilst a Private Medical policy also provides cover for routine treatment and treatment for pre-existing conditions usually with wider coverage and more treatment options available.

Our policies can cover trips lasting a few days or up to a full year with several standard periods in between. We can provide multi trip insurance cover as well for those making numerous smaller period trips over the course of a year.

Firstly, we can offer Travel Insurance policies to the private traveller and companies, especially for those travelling to Europe and the Schengen region. Our policies meet or exceed the minimum compulsory cover required for an Iraqi National to obtain a Schengen Visa. They also provide cover for trips on a Worldwide basis including North America.

Secondly for companies working in Iraq we can provide comprehensive travel coverage, Customizable. Depending on the cover, region and number of persons cover is required for.

Finally, as to the number of people we can cover on a policy – from One to as many as you require. We have provided cover for annual policies for companies with in excess of 2,500 employees making over 5,000 trips per annum under our Travel policy.

Go to the Travel Key Facts to obtain more information.

In certain circumstances and for certain pre-existing conditions we can consider providing cover. In our own Insurance Policy wording we define Pre-existing Medical Conditions as:  
  • Any disability, condition or Illness which originated prior to the effective date of this policy until a period of 12 consecutive months has elapsed during which the Insured Person has neither received nor required any treatment for the said disability, condition or Illness.
  • Any respiratory condition (relating to the lungs bleeding), heart condition, Crohn’s disease, epilepsy, cancer for which you have received treatment (including surgery, test investigations by your doctor or consultant/specialist and prescribed drugs for medication).
  • Any medical condition for which you are taking prescribed drugs for medication.
  • Any medical condition for which you have received terminal prognosis.
  Any medical condition you are aware of that for which you have not had a diagnosis.
  • Any medical condition for which you are on a waiting list for or have knowledge of the need surgery treatment or investigation at a hospital, clinic or nursing home.
Where we have agreed to provide cover we define pre-existing medical conditions that can be automatically covered as follows, for those conditions not included in the list we may consider cover but full underwriting information will need to be supplied: The definition of Pre-existing medical condition that we can consider are:
  • included on the following list and
  • if the words in brackets apply to the insured person and
  • the condition has remained controlled on medication prescribed by a medical practitioner and
  • has not required any specialist treatment with 24 consecutive months.
Pre approved Conditions List:
  • Acne
  • ADHD (Attention Deficit Hyperactivity Disorder)
  • Asthma (providing it was diagnosed before age 50, and the insured person is taking/using no more than 2 different types of medication/inhalers and has not been admitted to hospital in the last year)
  • Carpal tunnel syndrome
  • Cataracts
  • Corneal graft
  • Deafness
  • Diabetes (providing there have been no complications such as impaired kidney function, heart disease, peripheral vascular disease, leg or foot ulcers, retinal damage, nerve damage, amputation of foot or leg, liver damage)
  • Fungal nail infection
  • Glaucoma
  • Hay fever
  • High cholesterol (the inherited form)
  • High blood pressure (providing the insured person has not suffered from any heart disease, kidney damage, stroke or mini-stroke)
  • HRT – Hormone Replacement Therapy
  • Meniere’s disease
  • Impetigo
  • Migraine (provided the insured person has received a confirmed diagnosis and there are no ongoing investigations)
  • RSI (Repetitive Strain Injury/Tendinitis)
  • Tendonitis
  • Tinnitus
  • Tonsillitis
  • Under-Active or Over-Active Thyroid
  • has not required any specialist treatment with 24 consecutive months.
  • has not required any specialist treatment with 24 consecutive months.
  • has not required any specialist treatment with 24 consecutive months.
Any disabilities impairing mobility, vision or mental health provided the insured person is accompanied by an appropriate career for when any assistance is required.

We can cover several activities as follows, others we will consider if you provide further information:

ACTIVITIES THAT CAN BE COVERED (others can be considered upon provision of additional information
Archaeological Digging Karting
Banana Boating Kite surfing
Bungee Jumping Paintballing/War Games
Camel Riding Paragliding
Clay Pigeon Shooting Parascending
Driving any motorised vehicle for which an Insured Person is licensed to drive in his/her Country of Domicile (other than in motor rallies or competitions)
  • Pony Trekking
  • Power Boating (no racing and non-competitive)
  • Safari Trekking (must be organised tour)
Elephant Riding/Trekking Sailing/Yachting (includes amateur racing competitions)
Falconry Sand Boarding
Flying as a fare paying passenger in a fully licensed passenger carrying aircraft
  • Sand Dune Surfing/Skiing
  • Sand Yachting (no racing)
Glass Bottom Boats/Bubbles Scuba Diving up to depth of 18 metres. No solo diving
Go Karting (within organisers guidelines)
  • Shooting/Small Bore Target/Rifle Range Shooting (within organisers guidelines)
  • Hockey
Horse Riding (excluding competitions, racing, jumping and hunting)
  • Speed Sailing (no racing)
  • Tall Ship Crewing (no racing)
Hot air Ballooning (organised pleasure rides only) Water Skiing/Water Ski Jumping
Hovercraft Driving/Passenger White Water Rafting
Jet Boating (no racing) Wind Surfing/Sailboarding
Jet Skiing (no racing) Zorbing/Hydro Zorbing/Sphering

A claims experience is important integral part of the underwriting process. One of the misconceptions is that by not supplying the claims experience you will get better terms. The opposite is true as with no claims experience, we and our reinsurers must rely on industry standard data and will always err on the side of caution regarding rating. 

Property Sector FAQs

Yes, we can and do arrange surveys of risks that we cover. Our survey partners provide survey services throughout the MENA and wider region for both the petrochemical and retail sectors to Internationally acceptable standards. These cover the construction aspects of the risk but can be extended to include operational aspects if so required. Contact us to discuss your survey requirements

Depending on the basic information provided to us, the type of occupation, machinery & plant, stock and goods and taking into account potential processes at the site and values at risk we may require a survey before we can even quote to enable us to obtain reinsurance on the risk. If this is the case we will advise you and explain the options available to you.

We are only able to cover standard properly constructed buildings built of non-combustible materials and with appropriate and well-maintained services such as the electrical supply.  We also need to be aware of hazards at the premises such as fuel tanks, their construction and where they are in relation to the building plus the general condition of buildings in the vicinity. If a building is non-standard or not in a good state of repair or surrounded by derelict buildings the risk is higher.

Because whilst you may be using your part of a building as an office your neighbour may be undertaking industrial processes next to you or have highly flammable stock. This makes a big difference to the risk hence why we ask about your neighbours.

There are many types of composite panels. Some are extremely flammable and very difficult to put out if they catch fire and release poisonous gasses whilst alight. We need to know what the panel construction is to provide best terms. If you cannot provide the construction, we will have to assume they are flammable which means we may not be able to assist you in providing cover.

We can but will require additional information from you concerning you profits and contingency plans, Contact us for more information

Provided the Party has an insurable interest in the property being covered then yes their interest can be noted in a number of ways, Contact us for more information.

A claims experience is important integral part of the underwriting process. One of the misconceptions is that by not supplying the claims experience you will get better terms. The opposite is true as with no claims experience, we and our reinsurers must rely on industry standard data and will always err on the side of caution regarding rating. 

Transportation Sector FAQs

Ideally we would prefer you to use the form that can be found here for Fleet Vehicle Schedule if you are unable to do this then provided you can supply the same information as requested in our downloadable schedule in a legible format (word, XL or PDF document) we can transfer and use that information to underwrite your Contractors plant risk.

Our standard policy does in that we do not normally write Accidental Damage cover on vehicles that are more than 7 years old from date of manufacture. We can be flexible though depending on the Fleet size and vehicle type although we may need to inspect the vehicle first.

If the vehicle is licensed for use on the Public Highway then yes you can (for example a mobile crane).

We can consider Transhipment upon receipt of full underwriting information and if we can provide this cover there will be an additional premium payable.

That depends very much on the transit route and destination plus the political situation at the time of the transit. Any cover given will be subject to Increased Deductible and additional Premium plus depending on size of risk availability of reinsurance.

Yes we can issue certificates if requested for example for a Letter of Credit requirement.

A claims experience is important integral part of the underwriting process. One of the misconceptions is that by not supplying the claims experience you will get better terms. The opposite is true as with no claims experience, we and our reinsurers must rely on industry standard data and will always err on the side of caution regarding rating. 

Private Medical and Health Sector FAQs

No, our plans are designed to cover companies or organisations such as state departments or ministries ideally having more than 15 employees (dependants do not count towards this total) but will consider plans from 5 employees subject to full underwriting information and subject to minimum premium requirements which vary depending on the plan chosen.

Yes. All our plans can include a spouse or adult partner who is permanently living with you, any unmarried children (including step, foster and legally adopted children) providing they are under 21 (or under 24 if in full time education) when they are first added to the policy and at each subsequent policy renewal date If this option is chosen all eligible dependents must be added to the plan. Contact Us for more information.

No. A simple medical questionnaire is all that is usually required. If we need any further information to access your application fairly and accurately, we may request a medical report from a doctor.

Since the purpose of your policy is to provide cover for unforeseen medical problems that arise after the date of joining, no cover is normally provided for those conditions that pre-existed the inception date of the policy. In certain circumstances, such as the number of plan participants or cover requested, we can consider offering cover for pre-existing conditions.
Contact Us for more information.

We can cover chronic conditions under several plans we offer usually subject to a waiting period. Contact Us for more information.

Cover will not be cancelled because of the number of claims made or a change in the state of health of the plan member.

Cover for Maternity and childbirth is available under certain plans we offer and is subject to a waiting period from the inception date (or the date of an upgrade if transferring from a lower Level of Cover) of the expectant mother’s cover.

Outpatient prescriptions that are prescribed by a qualified medical practitioner are covered under all but the Basic Plan level, up to their respective plan limits. Certain medications, such as dietary supplements and nutritional products are not covered. Any medication that can be obtained over the counter will not be reimbursed even if included within a prescription.

There are 2 different aspects to the dental cover provided: Emergency dental treatment for immediate pain relief where required as a result of an accident causing damage to sound natural teeth under all plans (except in our Basic plans), we will pay for treatment that where given within 48 hours from the time of the accident.

We also offer Routine & restorative Dental Care treatment under several our other plans subject to varying policy limits depending on the plan chosen.

Please note that costs are subject to waiting periods and mandatory co-payments.

Benefit is available under all Levels of Cover for the medical treatment incurred in respect of a kidney, heart, heart/lung or liver transplant to the respective limits shown. No cover however is available for the implantation of an artificial heart and the costs associated with locating/removing a donor organ and any associated administration costs.

Yes, where regional, global or specific territory is covered and this includes your home/passport-holding country when you first joined you can have treatment in your home territory. Under our plans covering Iraq only   you can have treatment at any Acibadem hospital in Turkey subject to Usual and Customary Reimbursment applying to the treatment.

Firstly all reimbursements are based on the procedure being one of medical necessity. Secondly the reimbursement itself will be based on the Usual Customary and Reasonable (UCR) level of medical expenses in the location where the expenses are incurred.   The reasonable charge for a service or supply is the lesser of:
  • The charge usually made for it by the provider who furnishes it, and
  • The prevailing charge made for it, in the same geographic area, by those of similar professional standing.
If usual and prevailing charges for a service or supply cannot be determined because of the unusual nature of the service or supply, the Insurers will determine to what extent the charge is reasonable, considering:
  • The complexity involved
  • The degree of professional skill required
  • Other pertinent factors

Our preferred method of reimbursement is payment direct to your bank account or send you a cheque, for Iraqi nationals we would normally make a direct payment into their nominated bank account or use one of the widely available certified cash transfer agencies.  Only under exceptional circumstances and subject to a strict procedure would cash reimbursement be entertained. There is a section on the claim form that will ask the member to indicate their preferred method of reimbursement.

As with all insurance policies, there has to be a number of items of expense, which cannot be covered for full details on the terms, conditions, and exclusions of the policy, you should refer to the policy wording.

Co-payment is the portion of a covered expense that must be paid by the member. There are two types of co-payments: general policy co-payments and benefit-specific co-payments. The Company currently offers three general policy co-payment plans:  10%, 20%, and 30%. For custom limit plans we can consider differing Co-pay limits. The policy co-payment plan may only be changed when you renew your policy, not mid-term.

Under our money-back guarantee, please return this Policy together with written cancellation instructions to us within 14 days of the date of issue stated in the certificate. If no claim has been made, the premium will be refunded in full.

Research and Development Sector FAQs

Possibly. We are happy to talk to a potential or existing client about new insurance products and whether they fit within our ongoing and or future plans and also their viability. We cannot guarantee that we can help however due to the many different aspects that go into creating an insurance product.

Lead in and launch times for insurance products can vary considerably dependant on many factors, availability of reinsurance being a key one plus market demand for a product.