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. Non-payment by a sovereign entity cannot be predicted with any certainty, and volatility continues to affect countries globally.


  • Coverage for third-party bodily injury or property damage
  • Liability and accident coverage on one policy
  • Zero deductible for liability claims
  • Annual or short term coverage available

Best For

  • Manufacturers
  • Trading companies
  • Service providers
  • Wholesalers
  • Distributors
  • Financial institutions
  • Export credit agencies
  • Multilaterals

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 and war, embargo, operating license cancellation or failure to honor an arbitration award.
  • US$50 million maximum line for any one risk
  • Admitted in all 50 states
  • 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

Why 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. Our products and capabilities set the standard for the industry, and many of our almost 3,000 employees are industry-leading experts. Each of our highly entrepreneurial businesses are equipped to underwrite special situations, companies and individuals, and acts autonomously to deliver effective solutions. 
financial strength

Our financial strength ensures our clients will always be protected.

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holistic portfolio

Our holistic portfolio of products includes more than 100 classes of specialty insurance

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tokio marine

Tokio Marine HCC is part of Tokio Marine, one of the largest P&C insurers in the world

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