Political & Credit Risks
Political & Credit Risks
Our Political & Credit Risks team delivers a wide range of broking services to a diverse client base throughout the world.
We deliver innovative insurance, reinsurance and risk management solutions to global clients, which consist of retail clients, wholesale & retail brokers, insurance/reinsurance companies and captives.
We design and structure the most suitable risk mitigation solution that best meet the needs of the individual clients’ business, sector or territory and negotiate with global insurance markets that provide the very best solution.
The risks we are able to provide solutions for include, but are not limited to:
- Comprehensive Non-Payment Insurance covers financial default of an obligor following either commercial or political events.
- Non-delivery Insurance covers loss resulting from a contract default/ termination where a pre-payment has been made for the goods/services.
- Pre/Post Shipment Insurance covers manufacturers against loss incurred following the cancellation of a contract pre/post shipment.
- Unfair Calling of Bonds covers against a bond being called where the Insured is not in contractual default or has been unable to fulfil their obligations due to political perils.
Non-payment insurance for banks
- Structured to fulfil credit requirements for capital management under Basel II/III allowing for the use of insurance as an alternative to syndication.
Political Risk Insurance
Covers exposure to unstable jurisdictions through direct investments, or by way of exposure as a Lender.
- Confiscation, Expropriation, Nationalisation, Deprivation (CEND)
- Currency Inconvertibility and Transfer Risk (CI)
- Political Violence (PV)
- Operating Licence/Concession Agreement Repudiation or Cancellation
- Export Embargo / Inability to Export
- Forced Abandonment
- Forced Divestiture
- Selective Discrimination
As an alternative to Bank issued guarantees, we have the expertise to seek surety solutions from the highly Specialised Surety Bond market. Our typical bond forms are;
- Down payment and advance payment bonds
- Warranty bonds
- Performance bonds
Typical beneficiaries of our solutions include:
- Commodity traders
- Banks and other financial institutions
That said, any insured who operate/ are looking to expand into emerging markets, or have credit exposure that they are looking to mitigate will benefit.
We pride ourselves on the level and quality of service we provide our clients. From fast response times to bespoke insurance solutions, we ensure that we deliver high quality personalised service. We treat each client as an individual with their own set of needs and requirements. Listening, understanding and being attentive ensure that those needs are met.
As an independent yet globally operative intermediary, we work with insurers in Lloyd’s, London, Europe and throughout the word. Our market knowledge and long established relationships with Insurers ensures that we negotiate the most comprehensive cover available at the most competitive premiums.
Furthermore, we are uniquely position as an authorised representative of several Export Credit Agencies/ Multilateral Agencies including;
- Multilateral Investment Guarantee Agency (MIGA, a member of the World Bank)
- The Arab Investment & Export Credit Guarantee Corporation (Dhaman)
- African Trade Insurance (ATI)
Whilst we work with clients to mitigate exposure through risk management, claims are unfortunately inevitable and our Claims Service is designed to be proactive. We pride ourselves on our excellent reputation for both claims negotiations and working with our clients during a difficult time in order to negotiate the best possible results.