There are few areas that demand more specialist and professional claims handling than political risk and credit. With offices in London, New York, Singapore and Hamburg, Chubb is the leading global provider of political risk, trade and structured trade credit insurance and is a recognised authority in the underlying economic knowledge required to underwrite, manage and service these risks.
Our policies are tailored to the precise international requirements of the financial institution, corporation or agency involved. They reflect complex market circumstances in locations across the globe and are characterised by particularly comprehensive documentation, which becomes the cornerstone of reference in the case of a claim. As a result, each and every loss or claim also requires a bespoke approach.
Due to the nature of the risks, our underwriters and claims staff collaborate very closely at every policy stage. This ensures that, in the event of a claim, clients are always working with professionals who not only fully appreciate the intricacies of this area of insurance, but who understand their business, its sensitivities and geographical spread.
Conditionality and Control
We appreciate that there are unique aspects to handling political risk and trade credit claims which seek to limit the severity of ultimate losses, most notably the ‘waiting period’. This allows clients time to take remedial action and, if unsuccessful, to agree with us a strategy for recovery. At Chubb, we aim to validate a claim during the waiting period in order that scheduled payments are made as soon as it has expired.
With worldwide representation, our London-based specialist political risk and trade credit claims expertise is supported on the ground by our global office network, ensuring that the very best local language and cultural input is always available. This is backed up by a trusted network of world-class external specialist loss adjusters, lawyers and security consultants, all equipped with a high level international contact and skills base.
We have a dedicated team of analysts providing up-to-date country and political intelligence, which can be highly relevant to the eventual outcome of a claim, and we seek to support our clients with relevant insights from this research. Wherever in the world their loss occurs, our clients have a highly experienced team ready to respond and deliver the best possible outcomes each and every time.