If you are doing business with customers in foreign countries political risk insurance can provide protection against losses stemming from political risks in those countries, including government actions, such as expropriation, currency inconvertibility, political violence, and sovereign default.

 

Political risk insurance covers; 

• Confiscation, expropriation or nationalization of assets

• Export/import embargoes or cancellation of export/import licenses

• Physical damage to assets from political violence

• Termination of or default on contracts

• Non-payment or moratorium due to exchange transfer and currency inconvertibility

• Non delivery/shipment of goods

• Calling of on-demand bid or contract bonds and guarantees for unfair or political reasons

• Forced abandonment or divestiture

• Non-payment by government and/or government owned entities of trade related debt to financial institutions

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Political risk insurance policies are typically tailored to the specific needs of the insured party and the nature of their operations in a particular country or region. Elevate Global Insurance can help you get the coverage you need for your business.

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