Specialist political risk coverage for companies trading with and investing in emerging markets
PRISM (Political Risk Insurance Support & Management) is our updated and expanded form of Political Risk Insurance for businesses with assets and investments abroad, including Foreign Direct Investment, contractors plant and equipment and mobile assets.
In addition to the standard political risk coverage for loss of assets due to expropriation, war and political violence, our coverage also includes practical Crisis Management Support provided by Control Risks Group. Crisis Management includes support for all the normal political risk coverages as well as Wrongful Detention of personnel, Malicious Prosecution, Illegal Occupation and Emergency Repatriation.
In addition to coverages designed to protect assets and investments, we also provide cover for companies undertaking work for Public Bodies in against the risks of Contract Frustration (pre-shipment, post-shipment and Unfair Calling of Guarantees).
- Permanent abandonment of assets or operations cover.
- Partial loss of Assets or Shareholding cover.
- Damage to assets caused by Political Violence and consequent business interruption cover.
- Non-transfer or inconvertibility of earnings and remittances cover.
- Non-honouring of Arbitration Award by a Government body support.
- Inability to re-export equipment following completion of a contract cover.
- Crisis Management Support – provided by Control Risks Group.
We are building a unique and diverse book of political risk business for mid-size corporate clients, continually testing the relevance and efficacy of our product offering against the evolving threat landscape and risks facing companies engaged on the one hand, in Foreign Direct Investment and on the other hand, in contracting with foreign governments.
per risk for PRISM. Maximum coverage period 36 months cover.
per risk for Contract Frustration. 36 months cover.
Crisis Management support is provided by Control Risks, a specialist risk consultancy working with global clients to resolve critical events and crises. It provides companies with practical 24/7 help in protecting not just the assets, but more importantly the personnel working with mobile assets or permanent operations in emerging markets when a political or security situation deteriorates.
The team has considerable experience in managing claims scenarios, built up over the forty years that the product head has been active in the political risk market. Just as important is the ability to deploy Control Risks Group to assist a client in managing and mitigating a potential loss situation. No other insurer in the political risk market offers this facility.