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Political Risk

What is Political Risk?

  • Insures overseas assets against the perils of expropriation, political violence (including war and terrorism), currency inconvertibility and the wrongful calling of on-demand guarantees.
  • Insures against the risk of non-payment by foreign governments on cross-border loans or contracts.

The AIG Political Risk Advantage

Market Leader

  • 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.
  • Four decades of experience and expertise with dedicated underwriters who help clients with large Political Risk programs  

Multinational Capability

  • Dedicated Political Risk underwriters in the U.S. (New York, Chicago and Seattle) and around the world (Toronto, London, Tokyo and Singapore) provide clients with a global network, relationships and expertise.

Claims Management

  • Specialized claims team leverages our 30+ years’ experience and expertise to understand clients’ losses. 
  • Over $520M in global claims paid since 1990.

Why AIG?

Problem Solvers

Challenge: A producer and distributor for the infrastructure and agricultural markets conducts business in key emerging markets around the world.

Solution: AIG provided coverage needed for the perils of expropriation, political violence and currency inconvertibility. 

Benefit: AIG was selected by the client, despite a lower-priced competitor’s option, due to its long-term commitment to Political Risk, membership in the Berne Union and dedicated claims expertise.

Creative Solutions

Challenge: A contractor faced several challenges around their equipment overseas: working on a foreign military base, political violence that could damage or force evacuation/abandonment of their equipment and government restrictions that might make it impossible to move the equipment out of the country once the work was completed.

Solution: AIG Political Risk policy was put in place that provided the necessary coverage due to the client’s property policies not providing the coverage. 

Benefit: AIG’s policy allowed the contractor to focus on the very technical aspects of the job while transferring the inherent emerging market risk of a small South American country where it had never done work before.

Claims Expertise

Challenge: A large oil and gas services company was forcibly taken over by a South American country.

Solution: The company was able to draw down on a $50M limit provided by AIG’s Political Risk policy. 

Benefit: AIG’s claims experts assisted the client to recover their assets, allowing them to begin work again and avoid larger losses in the same country.

National Leadership

Janet Shore

Vice President and Zonal Underwriting Manager (Central)

Sean Dunphy

Vice President and Zonal Underwriting Manager (West)

Benjamin Walker

Underwriting Specialist (East)

Downloadable Materials