Close

Search Results

Sorry we couldn't find any results for you.

    Loading search results

    Skip to Content

    Political risks & terrorism

    Political risks & trade credit

    Lila Rymer

    Lila Rymer

    US Political Risks - Credit &Terrorism 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.

    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.

    Coverage

    • 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 10 years

    Key Territories

    Worldwide

    Political risks & trade credit team

    Underwriters

    Matt Dunne

    Underwriter Political Risk & Trade Credit

    Matt Dunne

    New York, NY, USA

    Garret Glassman

    Underwriter - Political Risks & Trade Credit

    Garret Glassman

    New York, NY, USA

    +1 917 344 3321

    Lila Rymer

    US Political Risks - Credit &Terrorism Underwriter

    Lila Rymer

    New York, NY, USA

    646 378 4010

    Claims

    Yera Patel

    PCG & Financial Lines Claims Team Leader

    Yera Patel

    New York, NY, USA

    +19173443356

    Political risks & trade credit forms

    Further wordings and proposals are available upon request. To obtain an indication for cover or further information, please speak to our underwriters.

    Application forms

    Comprehensive Contractors Plant Insurance Application

    Product fact sheets

    Political Risks & Trade Credit Product Sheet (UK version)
    Political Risks & Trade Credit Product Sheet (US version)

    Wordings/policies

    Comprehensive Contractors Plant & Equipment Cover