Argo Group

Argo Group is a Bermuda-based international issuer of specialty insurance and reinsurance products. The Political Risk Insurance provides coverage for businesses against risks that disturb cross-border investments, finalize transactions or execute payment processes. Coverage includes:

• “Pre-shipment perils, including breach of contract, force majeure, import/export embargo and license cancellation.
• Non-delivery of goods and/or non-repayment of a prepayment made under a pre-export finance or barter contract.
• Unfair calling or fair call for political reasons of on-demand bonds.
• Non-payment of contractually due amounts.
• Un-honoured letters of credit.
• Exchange transfer and currency inconvertibility.
• Un-honoured arbitration awards or court judgments.
• Expropriation, including confiscation, nationalization, deprivation, selective discrimination, forced divesture and forced abandonment by an overseas government entity of an insured’s interest.
• Physical damage or destruction of property due to war, strikes, riots and civil commotion.”

Transactions of up to USD 20 million.

Argo provides their instruments worldwide, except in Afghanistan, Cuba, North Korea, Republic of Sudan and Syria.

• Tenor of coverage: maximum tenor for Political Risk and Contract Frustration Policies is 10 years.

https://www.argolimited.com/international/product/trade-credit-and-political-risks/