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. Non-payment by a sovereign entity cannot be predicted with any certainty, and volatility continues to affect countries globally.
Best for
- Manufacturers
- Trading companies
- Service providers
- Wholesalers
- Distributors
- Financial institutions
- Export credit agencies
- Multilaterals
Highlights
-
Non-cancellable limits
-
Up to 95% indemnity
-
Maximum tenor of 10 years
-
Coverage may be expanded to include pre-shipment contract frustration
Summary of coverage
Sovereign non-payment coverage protects a policyholder against post shipment default by a government owned entity or Ministry otherwise known as a "Public Debtor". In addition to post shipment non-payment coverage, pre-shipment contract frustration cover is also available on a wide range of sovereign contracts with the policy providing protection against contract repudiation, political violence & war, embargo, operating license cancellation, or failure to honor an arbitration award.
Related products
Why choose Tokio Marine HCC?
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
More about us Financial strength