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.
- 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
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
- 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
Up to a maximum of 10 years