Guys, I have not been able to find a factual answer to this recently disturbing thought on my mind.

Knowing fully well that Libya (a case study among the Arab Spring victims) being a top oil producing country must have had immense infrastructures and other investments, especially FDIs destroyed; How can the insurance companies that insured these assets assume this heavy liability if at all some may survive it.

Can the insurance experts in the house please inform us on the laws and practices of how war caused devastations are structured and managed.

I am asking this question because a close friend once shared her experience with the CEO of one of the biggest insurance companies in Nigeria who she quoted as saying about a multi-billion dollar oil&gas facility insurance contract his company signed to cover, that any day it goes bad he would just carry his briefcase and disappear from the country.

Please share your thoughts on this.