The rapid economic growth and modernization of emerging markets attracts companies looking to expand their business. However without risk, there is no reward, and companies need to protect themselves against the potential political, financial and reputational exposures of conducting business in these emerging markets.
Political risk insurance can provide the protection investors, financial institutions and corporate clients need to safeguard their investments in overseas markets against unpredictable losses due to specified political risk perils.
This policy is suitable for the following:
- Corporations and traders with overseas investments
- financial institutions
- specific projects
- traders, exporters and corporations that have a repayment obligation from the sovereign or state owned enterprise
- exporters and contractors who have mobile equipment
- multi laterals and export credit agencies.
- Contractors
- aircraft financing and leasing companies
- exporters
- traders
Risks Covered
- Political violence, such as revolution, insurrection, civil unrest, terrorism or war;
- Governmental expropriation or confiscation of assets;
- Governmental frustration or repudiation of contracts;
- Wrongful calling of letters of credit or similar on-demand guarantees;
- Business Interruption; and
- Inconvertibility of foreign currency or the inability to repatriate funds.
- Sovereign payment default
- Strikes, Riots and Civil Commotions
- Malicious damage
- Non-repossession of aircraft and mobile equipment
- Pre-shipment risks
Major Exclusions
- Unexplained losses
- War, terrorism and sabotage
Period of Insurance
The coverage is usually provided for a period of one year.
Deductible
The policy may have a time or a monetary deductible.
Presale and After Sale Services
We have a professional and experienced team of underwriters who can assist you:
- in the proper understanding of insurance’s coverage
- in answering your queries
- in advising you on the information required by underwriters to quote terms
- in completing the proposal form if applicable
- in advising you on covers to meet your requirements
You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.
Premium Rate
Premium rates are based on:
- Values at risk
- Geographical area involved
- Security measures
- Nature of Business
Important Information
Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.
Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Gulf at +971 4 351 8610