What is Political Risk Insurance?
Political risk insurance can be particularly important when working abroad or in developing countries. Policies protect against financial loss (which may be considerable) resulting from government actions like expropriation, political violence, non-payment by foreign governments, etc.
Why does your business need AIG's Political Risk Insurance?
Backed by more than 40 years of experience, AIG provides tailored coverage for companies doing business in other countries. Our policies protect against financial loss (which may be considerable) resulting from government actions. Even as political climates shift, with AIG, your coverage will remain non-cancelable and secure. We cover various types of losses due to political action and instability. Some commonly covered industries include:
- Project lenders
- Importers and exporters
- Financial institutions and capital markets
- Multinational corporations
- Project multinationals
- Contractors
What does AIG Political Risk Insurance cover?
- Confiscation, expropriation, or nationalization
- Currency inconvertibility and non-transfer
- Political violence (including terrorism and war)
- Contract frustration due to political events
- Sovereign payment default
- Wrongful calling of on-demand guarantees and bonds
The AIG Advantage
Market Leadership
- We have four decades of experience with dedicated underwriters who help clients with large Political Risk programs—over $520M in global claims paid since 1990.
- Industry-leading limits of up to $150M, multi-year policies with non-cancelable limits (up to 15 years, average 3-5 years) and worldwide coverage.
Creative Solutions
- We protect infrastructure, agriculture, gas and oil, contractors’ plant and equipment, and much more against losses caused by takeovers, political violence, and forced evacuation in multiple territories.
Multinational Reach
- Our global Political Risk network consists of underwriters located in New York, Chicago, Seattle, Toronto, London, Tokyo, and Singapore).