Named Perils Cover
Political Risk Insurance - cover against loss from named political risk perils.
Four ‘heads of cover’
What we insure
*The cover can include provision to indemnify clients for one or more of the below items:
Up to a maximum of 15 years
Beazley provides specialist insurance protection in respect of emerging markets, political violence, credit and wider political risks to a range of clients including commodity traders; foreign investors; banks and financial institutions; project financiers and sponsors; forfaiting companies; and exporters and importers of goods and services.
Beazley provides specialist insurance protection in respect of trade and investment to a wide range of clients including:
Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.
STRIVING FOR BETTER
Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.
DOING THE RIGHT THING
Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.
We, via a coverholder, insured a company that supplied marine fuels through their buyer for onward supply to ship owners. With no prior warning, the buyer filed for court protection and subsequently entered bankruptcy proceedings leaving an multimillion USD amount owing to the insured.
Upon notification of the claim, we immediately investigated the circumstances and initiated a plan to look at recovery options including the legal position of the various claims in the bankruptcy proceedings.
Given the size of the loss and the position of the buyer in the market, any delays could have caused significant cash flow issues to the insured. The claim was reserved in full within 21 days and we, the lead insurer, paid its share of the loss within 27 days.