Political Risk, Terrorism and War
The Catlin Group has been a committed underwriter of political risks for more than 10 years. We offer substantial capacity, can offer greater flexibility with policy periods and have specialist knowledge in developing bespoke wordings.
Catlin Bermuda will consider a vast range of political risks including:
- Investment insurance (confiscation, expropriation, nationalization and deprivation);
- Lenders’ interest
- Letter of credit facilities;
- Trade finance (pre-export finance and non-payment);
- Exchange transfer;
- Structured credits;
- Pre- and post-shipment contract frustration;
- Bond portfolios;
- Comprehensive contractors plant;
- Political violence;
- Conventional terrorism; and
- NCBR (nuclear, chemical, biological and radiation) terrorism.
Our NCBR terrorism product developed in 2006 firmly established Catlin Bermuda as the market lead for this difficult class. With its innovative approach to exposure management, Catlin Bermuda can offer clients NCBR cover at a fraction of the rate previously available. It is of particular value to workers compensation funds in the US and worldwide for corporate headquarters, manufacturing hubs, sports and entertainment facilities, colleges, hotels, retail premises, and infrastructure risks including airports, stations and ports.
While Catlin Bermuda shares underwriting philosophy and methodology with the Catlin Syndicate, Catlin Bermuda can also underwrite business that the London market is unable to contemplate due to Lloyd’s regulations. These include policies that involve a period of more than 12 months, war cover, non-trade-related deals and sovereign default.