Provided by Credit Group

Sovereign Non-payment

Emerging markets often provide the strongest growth opportunities for banks, traders and manufacturers. In recent years, it has again become evident that emerging markets which appear stable one day can suddenly face political unrest or economic instability. While volatility continues to affect countries globally, non-payment by a sovereign entity cannot be predicted with any certainty.

Best for

  • Manufacturers
  • Trading Companies
  • Service Providers
  • Wholesalers
  • Distributors
  • Financial Institutions
  • Export Credit Agencies
  • Multilaterals

Highlights

  • Coverage for third-party bodily injury or property damage
  • Liability and accident coverage on one policy
  • Zero deductible for liability claims
  • $50 million maximum line for any one risk
  • Annual or short- term coverage available
  • Worldwide scope
  • Responsiveness of a dual underwriting platform with experts in London and New York
  • Emphasis on building a customer relationship and a long-term partnership
  • Superior claims management processing and customer service

Summary of coverage

  • Protects against post-shipment default by a government owned entity or ministry otherwise known as a ‘public debtor’ 
  • Pre-shipment contract frustration cover available on a wide range of sovereign contracts 
  • Pprotection against contract repudiation; political violence and war; embargo; operating license cancellation; or and failure to honor an arbitration award. 
  • Admitted in all 50 states 
Get in touch
Blake W
Blake Weber

Sr. Vice President, Credit Underwriting

Documents & forms

Your team

Directory
Head office

135 Pinelawn Road, Suite 150N
Melville, NY 11747

(631) 391-5434
Blake W
Blake Weber

Sr. Vice President, Credit Underwriting

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Not all products, coverages, or features may be available in all states. Restrictions, exclusions, limitations, and conditions apply and you should see your agent for more information. Certain products and services are provided through non-admitted insurance carriers and are not subject to certain State Guaranty Funds.