Political Risk
Catlin has been a committed underwriter of Political Risks for more than 10 years, having developed expertise throughout the market cycle.
We offer a substantial market line, can offer great flexibility with policy periods and our underwriters have specialist knowledge in developing bespoke wordings.
We have the capacity to write the full spectrum of Political Risk products from investment insurance and lenders form to contract frustration and standalone political violence.
Catlin is a market leader for political risk insurance, with an expert team of underwriters based in London.
Examples of risks covered are:
- the exchange transfer risk (currency inconvertibility or non-transfer), where the appropriate foreign exchange cannot be transferred to the insured’s country (CI)
- confiscation, expropriation, nationalization or deprivation of assets or property (CEND)
- government action which prevents the performance of the contract whether by imposing new regulations, cancelling licences (import or export) etc, contract repudiation or imposing embargoes
- political violence, including war or civil war, revolution, insurrection, civil commotion, riots which results in damage to the insured’s property or prevents him performing the contract (PV)
- non-payment by a sovereign buyer (that is, a buyer who has the full backing of the government) or non-delivery by a sovereign supplier or non-honouring of a sovereign guarantee.