Best for
- Manufacturers
- Trading Companies
- Service Providers
- Wholesalers
- Distributors
- Financial Institutions
- Export Credit Agencies
- Multilaterals
Highlights
- $50 million maximum line for any one risk
- Non-cancellable limits
- Typically up to 90% indemnity, but 95% is considered for sovereign ‘public’ obligors
- Tenor of up to seven years for private debtors and 10 years for sovereign ‘"public’" obligors
- Coverage may be expanded to include post-shipment non-payment
- 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
Summary of coverage
- Contract frustration cover protects a policyholder against cancellation of a fixed contract for both pre- and post-delivery risks
- Pre-delivery contract frustration events may include, but are not limited to: political violence and war; embargo; operating license cancellation; and failure to honor an arbitration award.
- Pre-delivery coverage may be expanded to include the fair or unfair call of a performance, warranty or down payment bond.
- Post-shipment non-payment coverage in the form of insolvency or protracted default is also available for both private and public obligors
- Admitted in all 50 states
Documents & forms
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 strengthNot all products, coverages, or features may be available in all states. Restrictions, exclusions, limitations, and conditions apply and you should see your agent for more information. Certain products and services are provided through non-admitted insurance carriers and are not subject to certain State Guaranty Funds.