AG recently recruited a highly respected terrorism team focussed particularly on reinsurance. Terrorism is a changing and challenging peril and is on the agenda of all insurers and their clients. AG’s specialist team offers a range of cover for commercial and industrial clients for standalone terrorism risks worldwide, to provide protection against physical damage and business interruption losses arising from terrorist attacks. In certain cases, AG is able to provide coverage for third party liability and employers’ liability occurring as a result of loss from a terrorist attack.
Coverage can be extended to include political violence perils including strikes, riots, and civil commotion, malicious damage, insurrection, revolution, rebellion, mutiny, civil war and war. In the current uncertain geopolitical environment, such extended cover has seen greater take-up in recent years.
Trade Credit and Political Risks
AG offers a range of credit and political risk insurance products which can help to minimise the financial risk of exploiting opportunities in countries where the system of government and/or the business culture is unfamiliar and is potentially unfriendly.
As with all of our services, each insurance programme is designed to meet the client’s specific needs and the particular threats they may face. AG engages expert political risk forecasters to assess the characteristics of individual risks, as well as to assess our own portfolio, within the constantly evolving global geopolitical environment. We use sophisticated actuarial techniques to value and price each risk. The process is complemented by a rigorous approach to risk aggregation and mapping, employing deterministic and holistic analyses to monitor maximum exposures rigorously.
- Confiscation, expropriation and nationalisation
- Contract frustration insurance
- War and terrorism in emerging markets
- Unfair calling of contract bonds
AG’s Credit and Political Risks team evaluates each client’s political risks, credit risks and the risks associated with trade and investment in emerging markets, to provide solutions for manufacturers and coverage for lenders in project finance and trade, sponsors of projects for equity interest and for merchant traders. Insurance is tailored to:
- Support our clients’ growth
- Protect cash flow
- Reduce financing risk and the cost of funds
AG creates a bespoke solution for each client’s business in the trade of goods and services. We arrange political risk cover for financial losses as a result of permanent confiscation, nationalisation, expropriation, deprivation, sequestration or forced abandonment of physical assets.
Trade credit cover may range from traditional single-buyer or portfolio credit insurance, to complex insurances to back shipping-related finance. With the support of AG’s experienced marine team, AG is now recognised as having a comprehensive expertise in all types of commodity trades.
- Credit insurance (domestic and export; single buyer, portfolio, and whole turnover)
- Project finance, factoring, and asset-backed finance structures
- Shipping related finance, including refundment guarantees and charterers’ default