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Political Risks and Trade Credit

Specialist insurance protection in respect of emerging markets, political violence, credit and wider political risks to a range of clients.  

What we offer

Named Perils Cover 
Political Risk Insurance - cover against loss from named political risk perils.
Four ‘heads of cover’ 

  • Government Actions - This covers discriminatory actions taken by a host government against foreign owned assets or businesses located in that country, leading to a permanent loss or cessation of activities. Perils include expropriatory acts, licence cancellation or embargo. Also covered are the insured’s government’s actions leading to the forced divesture or abandonment of the insured interest. 
  • Political Violence - Property damage due to events such as war or terrorism. 
  • Currency Inconvertibility - An inability to convert local currency held within a host country into hard currency and transfer it out of the country due to a government moratorium.
  • Arbitration Award Default - A dispute with a host government over a key concession or contractual arrangement resulting in an arbitral award that is subsequently not honoured.  

 

How can we help

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.

The Beazley Difference

BEING BOLD

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.

Examples or Scenarios

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. 

Your Beazley Team

Matthew Dunne

Matthew Dunne

Focus Group Leader - US Political Risk & Trade Credit

New York, NY, USA

(212) 801-7171

Email Matthew

Brian Kearns

Brian Kearns

Underwriter - Political Risks & Trade Credit

New York, NY, USA

(212) 801-7204

Email Brian

Antony Ho

Antony Ho

Underwriter - Political Risks & Trade Credit

New York, NY, USA

Alex Hill

Alex Hill

Claims Focus Group Leader - Political and Terrorism

London, UK

+44 (0)20 7674 7326

Email Alex