Insurance Summaries
The insurances and services procured by TSB GLOBAL cover a wide range of political and credit risks. Their availability changes and develops, depending on the insurance and reinsurance markets.
The most frequent covers are listed hereafter. In order to access the summary of a cover, click on the title of the same.
Agribusiness
The insurances and services procured by TSB GLOBAL cover a wide range of physical, third-party liability and those risks related to Agriculture and Livestock, in addition to the usual political and credit risks of our other products and services. Their availability also changes and develops continuously, depending not only on the insurance and reinsurance markets, but mainly on the price and weather conditions of the various commodities traded in the world markets.
Objective is guarantee payment of indemnity in case of non-performance by obligor of the obligations listed in the CPR.
Due to the very specific, tailor-made nature of this insurance and to the diversity of its covers, indications are only given by consultation.
Due to the very specific, tailor-made nature of this insurance and to the diversity of its covers, indications are only given by consultation.
Due to the very specific, tailor-made nature of this insurance and to the diversity of its covers, indications are only given by consultation.
Due to the very specific, tailor-made nature of this insurance and to the diversity of its covers, indications are only given by consultation.
Due to the very specific, tailor-made nature of this insurance and to the diversity of its covers, indications are only given by consultation.
This insurance covers all agricultural production against losses caused mainly by climatic change. It covers from planting to harvesting against the majority of external risks such as fire, lightning , water and rain damage, windstorms, hail, frost, excessive and shortage of rain, and excessive variation of temperature.
Trade Credit
The insurances and services procured by TSB GLOBAL cover a wide range of political and credit risks. Their availability changes and develops, depending on the insurance and reinsurance markets.
- Insolvency
- Protracted default
- Non-payment
- Import / export embargo
- Repudiation of contract
- Force majeure frustration of contract
- Inconvertibility / exchange transfer
- Non-certification
- Unfair calling of on-demand bonds
- Trade disruption
Risks covered: Non-payment of the trade receivables.
Elements covered: The insurance is structured to enhance the portfolio of trade receivables to the necessary level to achieve the desired rating. The insurance structure will also be sensitive to the cash flow requirements of the issue so that in the event of defaults on trade debts insurer’s payments will match the financial commitments of the issuer.
Please contact us for more information.
Surety Bond
The insurances and services procured by TSB GLOBAL cover a wide range of political and credit risks. Their availability changes and develops, depending on the insurance and reinsurance markets.
This type of surety bond guarantees that the bidder will carry out a contract at the bid price and conditions offered upon award of the bid. Typically, the value of the bid bond is equal to 1% of the contract value.
Covers the risk of failure by the contractor to perform the building, delivery or service contract in accordance with its terms and conditions.Typically, the value of the performance bond is equal to 5% to 10% of the contract value.
Covers the risk of failure by the contractor to apply the payment advanced by the owner in accordance with its terms and conditions of the building, delivery or service contract. Typically, the value of the advance payment bond is equal to the amounts advanced by the owner.
Guarantees the owner against defective workmanship or materials after the completion of a construction, delivery or service contract for a specified period of time.
Guarantees the completion of work according to the conditions and terms of the contract. Its main purpose is the conclusion of the works and not the reimbursement of amounts paid.
Guarantees the failure of the importer/exporter to comply with custom regimes, whereby tax payment is deferred. Typical example is the regime of temporary admission.
Guarantees the failure by the concession holder to comply with its obligations according to the concession contract executed with the government. Typically, the bonds are issued for renewable periods of one year.
Guarantees the failure by the issuer of the security, an agricultural producer, to deliver the product specified in the CPR according to its terms and conditions. The policy foresees either for the material delivery of the goods or for the payment in cash of the same.
Contract Frustration
The insurances and services procured by TSB GLOBAL cover a wide range of political and credit risks. Their availability changes and develops, depending on the insurance and reinsurance markets.
- Failure of the supplier/obligor to perform the contract
- Force majeure frustration of contract
- Breach of contract by supplier/obligor
- Import/export embargo
- Other government action
- Trade disruption
Please contact us for more information.
Political Risk
The insurances and services procured by TSB GLOBAL cover a wide range of political and credit risks. Their availability changes and develops, depending on the insurance and reinsurance markets.
- confiscation
- War and Political Violence
- Abandonment
- Deprivation (inability to export)
- Non-repossession
- Expropriation
- War and Political Violence
- Forced Abandonment
- Forced Divestiture
- Selected Discrimination
- Political Force Majeure
- Inconvertibility
- Additional coverages (e.g. breach of contract by host government) available.
- Expropriation
- War
- Forced Abandonment
- Inconvertibility
- Forced Divestiture
- Selective Discrimination
- Breach of Contractual Obligations by Government
- Political Force Majeure
- Additional coverages such as disruption due to conventional land and marine perils are available.
- Expropriation
- Forced Abandonment
- War and Political Violence
- Expropriation
- War
- Forced Abandonment
- Inconvertibility
- Exchange Transfer
- Forced Divestiture
- Selective Discrimination
- Political Force Majeure
Please contact us for more information.
- Eligible risks: All forms of land based property and assets, including commercial buildings, residential buildings, offices, factories, infrastructure, oil and gas installations, power projects, retail premises, etc.
- Description: Stand-alone War and Terrorism Insurance for land-based assets.
- Geographical locations: Worldwide
- Policy Periods: Normally 12 months non cancellable, with 6 monthly extensions/roll forward for Stand-Alone Cover; Longer periods are available, particularly when cover is purchased as part of a broader Investment Insurance program.
- Policy Types: Various Policy Forms apply, catering for different types of losses flowing from political violence, including: Property Damage; Business Interruption; Equity Coverage; Lenders Coverage; Forced Abandonment; Event Cancellation and Contingency.
- Main Exclusions: Five Great Powers and Nuclear exclusions are standard; Other exclusions vary with Policy Forms.
- Business Cost: Rates are risk related: Seldom below 0.1% per annum; Seldom above 0.5% per annum; Discounts apply for volume and spread .