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    Political risks & contingency

    Political risks & trade credit

    Roddy Barnett

    Roddy Barnett

    Focus Group Leader & Underwriter

    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; forfeiting companies; and exporters and importers of goods and services.

    Coverage

    We mitigate our clients' cross-border risks in respect of assets exposed to political force majeure events such as expropriation, wars, acts of terrorism, civil disturbances, and other forms of political violence.

    Risks covered also include:

    • Embargoes, border closures, and other types of government interference including confiscation and deprivation of assets (whether fixed or mobile)
    • Selective discrimination
    • Cancellation of operating licenses or concessions
    • Inability to repatriate dividends or intercompany loans

    These and other acts beyond the client's control can lead to the cessation of their operations and the failure of their investments, as well as to business interruption losses.

    Protection against government sponsored acts

    For companies trading with public and private counter parties, we provide insurance to protect against government sponsored acts before and after shipment of goods, including:

    • Unilateral termination of a contract by a foreign government
    • Cancellation of import and/or export licenses
    • Non-delivery for pre-paid goods; non-payment
    • Inability to convert and/or transfer foreign currency
    • Non-honouring of payment instruments such as central bank guarantees or letters of credits
    • Refusal to pay arbitration awards
    • Wrongful calling of contractual bonds

    Trade credit

    For companies trading with private and public counterparties, we provide insurance to protect against non-payment risk.

    Our trade credit account encompasses:

    • Traditional structures for sale and/or purchase of goods and services on deferred payment terms or for which advances have been made
    • Buyer and supplier credits and insurance in respect of payment instruments
    • Protection against government sponsored acts before and after shipment of goods

    Limits

    • Political Risks $50,000,000 per risk
    • Non-payment by a government owned entity $50,000,000 per buyer
    • Trade credit/Non-payment by a corporate entity $30,000,000 per buyer

    Policy

    Up to a maximum of seven years

    Key Territories

    Worldwide

    Political risks & trade credit team

    Underwriters

    Roddy Barnett

    Focus Group Leader & Underwriter

    Roddy Barnett

    London, UK

    +44 207 674 7525

    Crispin Hodges

    Underwriter Political & Contingency Group

    Crispin Hodges

    Dubai

    +971 (0) 43756237

    Adrian Lewers

    Head of PCG & Underwriter Political Risk

    Adrian Lewers

    London, UK

    +44 207 674 7045

    James Morrell

    Credit & Political Risks Underwriter

    James Morrell

    London, UK

    +44 207 674 7574

    Abbey Munslow

    Junior Underwriter

    Abbey Munslow

    London, UK

    +44 207 674 7770

    Claims

    Alex Hill

    Claims Manager

    Alex Hill

    London, UK

    0207 674 7326