CREDIT AND POLITICAL RISK INSURANCE
A proactive and informative underwriting approach adaptable to each client’s needs
Cincinnati Global adds superior value by providing a proactive and informative underwriting approach that is transparent and consistent for the partners with whom we do business. We are specialists with more than 25 years of experience underwriting credit, contract frustration and political risk insurance products.
For companies trading with private and public counterparties, Cincinnati Global provides CPRI to protect against non-payment risk. This can include traditional, short-term trade finance in respect of the sale or purchase of goods on deferred payment or delivery terms, or CPRI can encompass more complex and structured trade finance requirements for lengthier durations.
We can also provide investment cover for clients who have assets abroad which are exposed to geopolitical influences affecting the security of their assets.
Our client base spans a wide range of industry sectors, including:
- Consumer staples
- Telecommunications and information technology
Cincinnati Global’s geographic scope covers: Eastern and Western Europe, Middle East and North Africa, Latin America, North America, Asia and Australasia.
Key features of cover:
- Policy limit of liability up to USD 10 million per transaction and durations of up to five years for private non-payment coverage and up to seven years for sovereign non-payment and political risk are available
- Non-cancellable limits offered as standard
- Industry sector support that covers all aspects of the supply chain, from the production and procurement of raw materials through the processing, manufacturing and refining cycle to ultimately the wholesale and off-take of finished products. Cover can also include financial institutions that are financing transactions at any point in the supply chain
- Non-payment coverage can provide:
- protection to a supplier or offtaker conducting business with either private counterparties (credit) or sovereign-owned counterparties (contract frustration)
- open account sales, letters of credit and bills of exchange, to a variety of trade finance solutions, including receivable and inventory finance, pre-export finance, borrowing bases, project finance, reserve-based lending or pre-payment facilities
- Political risk coverage can provide for acts beyond the client’s control, such as: expropriation, war, terrorism, civil disturbance, embargoes, deprivation of assets, selective discrimination, cancellation of operating licenses and the inability to repatriate dividends or shareholder loans.
The account is underwritten at Box 114 on Gallery 1 at Lloyd’s.
For the 2021 year the account is expected to generate gross premium income of $8.5m.