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Decoding

Ascoma's insurance solutions for the increasing of political risks in Africa

  • 02/13/2019

For several years, political instability has spread to many countries, particularly on the African continent. To this renewed tension are added today terrorist threats and their dramatic consequences: violence, looting, riots and lots of material damage.

What are the risks?

Damage caused by terrorist attacks is excluded from the coverage provided by usual "Global Damage" insurance policies.

The situation is not better regarding to risks of strikes, riots and public disorder, which are only partially covered with, in particular, the absolute exclusion of the looting risks.

How to protect yourself?

Ascoma has searched solutions for its clients adapted to Africa from specialized international insurers. The "Political Risk" contract guarantees the risks associated with any decision or national event of a political nature, which may generate economic, financial or commercial losses.

The industries concerned are – (not exhaustive): hospitality and catering, sale (supermarkets and shops), shopping centers, cultural and leisure activities (cinema, theater), transport activities (railway stations and airports), industries, car dealers, banks.

How to act?

Two insurance options are proposed in this context: the FPV (Full Political Violence) or the FPR (Full Political Risks).
The "Full Political Violence" or "Political Violence" guarantee covers the damages that result from:

  • Acts of sabotage and terrorism,
  • Strikes, riots and public disorder,
  • Malevolence,
  • Insurrections, revolutions or rebellions,
  • Mutinies and/or coups,
  • Wars and civil wars.

The guarantee "Full Political Risk" or "Political Risk" is broader. It covers the damages included in the FPV guarantee, but also covers the risks related to the following situations:

  • Confiscation,
  • Nationalization,
  • Expropriation.

Ascoma is able to support you and to study how to cover these damages in the context of your activity.

Established on the continent for more than 60 years, the Ascoma Group has, through each of its 22 subsidiaries in Africa, an in-depth knowledge of local markets: specific risks, insurance regulations, company capabilities and strengths.