Western businesses face damaging costs if they underestimate the risks of working in post-war Iraq. That's according to international law firm Norton Rose.
The report warned that many companies looking to operate in post-war Iraq could incur heavy liabilities unless they rectify holes in their insurance policies.
It called on businesses to conduct audits of their insurance policies - accident and medical, property, transit and travel - and examine all exclusions.
Property policies typically exclude cover for losses arising from war. The report also warned that standard policies are unlikely to cover workers in countries that western governments are advising against visiting.
Peter Hardy, a partner at Norton Rose, said: "We expect companies may be insufficiently covered by insurance to work with confidence in post-war Iraq, and that they tend to underestimate the risks - particularly to employees - of doing long-term projects in this environment."
The report also questioned whether companies would be able to claim compensation if their contracts are broken.
