We underwrite a range of products related to trade credit and political risk.
We underwrite a specialist book of crisis management products. We offer an excellent service and response capability, with high levels of underwriter availability and the flexibility to respond to short-term situations as well as generally recognised threats. Our team is also supported by expert risk and crisis consultants.
Sabotage and Terrorism
We write a diverse sabotage and terrorism account with a mix of global industrial accounts and country-specific commercial risks. The portfolio encompasses business written in over 150 countries, with a focus on Latin America, Africa, Asia and the Middle East. We take a proactive approach to monitoring our market, with the use of external consultants to identify risk exposures. We have the flexibility to respond to short-term situations that occur following a flash-point situation, as well as more generally recognised domestic threats. Industries covered include:
- Leisure (including residential)
Kidnap and Ransom
We write a worldwide book of kidnap and ransom insurance, offering limits in line with clients’ requirements and supporting market wordings as well as providing bespoke wordings as required. Coverage includes the expenses of expert crisis consultants, salary benefits, rest and rehabilitation and business interruption. We also provide 24/7 and 365 days a year expert response and claims-handling capabilities.
We cover corporate insured and individual or family policies against a range of perils including:
- Property or personal extortion
- Wrongful detention
- Political evacuations and repatriation
- Death and dismemberment
We also offer wrongful detention, political evacuation and kidnap expense to complement travel insurance policies.
We participate on both large syndicated placements and a number of risks on a 100% basis. The business is written mainly through Lloyd’s brokers with whom we work closely to provide cover appropriate to their clients’ requirements. We have the capacity, ability, preference and general appetite to lead business; we take a lead or co-lead position for most risks in which we participate. We offer:
- Political all-risks including political force majeure, war & terrorism and
- Receivables protection
- Breach of contract/non-payment/ non-delivery by a government or private counterparty
- Embargo and currency inconvertibility
- Credit Insurance and Contract Frustration: comprehensive non-payment or non-delivery cover public or private counterparty
- Trade credit protection – single obligor/buyer
- Pre-export Finance (PXF) protection – public and private supplier
- Unfair/fair (political) calling of bonds and stand by letters of credit issued through banks.
- Aircraft/marine (leased asset) repossession
- Non-honouring of refund guarantees
- Approved to write Financial Guarantee and non-trade related credit business
- Reserve Base Loans (RBLs), Borrowing Base Facilities (BBFs), and other also non-trade relating lending
- Open to all countries (except sanctioned
Tenor – Up to 15 years (20 years may be available by arrangement).
Capacity – Up to US$ 75m per risk and US$ 90m per obligor.
We are located at box 127 on gallery 1 of Lloyd’s, and in our office on the ninth floor at Lloyd’s
London Market Credit Consortium – Toredo
The Toredo e-trading platform is an online platform for single situation trade credit insurance:
- Targeted at high volume, low premium trade finance
Max $75m (USD) per obligor / transaction
- Two years for FI business
- One year for trade business
We underwrite trade credit insurance programmes across the globe providing world-class receivables and payables solutions for businesses and banks. We are experts in offering bespoke cover across trade credit, supply chain finance and trade finance and across a wide number of sectors and markets.
The team writes comprehensive cover for:
- Excess of loss insurance, covering predominantly private buyers across the globe
- Single risk or named buyer insurance
- Supply chain finance solutions
- Supplier default insurance
- Non-cancellable buyer limits
- Capacity – up to $75m any one obligor
We take a tailored approach whilst always maintaining the highest of service levels. Empowered and client-focused, emphasising a personalised approach to brokers and clients alike, the team has the authority levels needed to provide an efficient and insightful service.
Trade Political Risk is an emerging-market trade-related team that focuses on political risk and contract frustration with the ability to underwrite trade credit on a selective basis.
The team’s focus is on protecting and growing the political risk and contract frustration book. They offer cover for breach of contract/non-payment/non-delivery by sovereign entities and government-owned obligors offering capacity of USD30m any one obligor. Also, for breach of contract/non-payment/non-delivery by private obligors offering capacity of USD10m for any one obligor.
The Canopius Trade Political Risk team is part of the Credit, Political & Crisis Management division. Our teams work alongside one another writing complementary books of business that cater for different clients and appetites.