Our Insurance broking subsidiary, Suez Grindlay and Co. Kft., is authorized by The National Bank of Hungary, The Hungarian Financial Regulator, to carry out the business of insurance broking in the European Union.
In line with our Group’s experience and expertise, we specialize in broking insurance cover for government entities and sovereign assets.
A government’s insurance requirements are complex and very different from those of commercial enterprises. More than a quarter century of working with governments around the world, has enabled us to understand their risk profile as well as their specific needs.
Working with the major European syndicates, and Lloyds brokers, we leverage our group’s experience in operating and thriving in the so called “economies in transition” into providing highly competitive political risk, war and terrorism cover.
Political Risk refers to the negative consequences that result from the action or inaction of government. It is usually highest in economies in transition, where the economy or politics are unstable. Political Risk Insurance can mitigate the negative impact of these risks, and assist companies to grow their businesses.
We offer coverage for Political Risks in three broad areas:
1) Asset/Investment Protection — Coverage for assets and investments in foreign countries for losses due to confiscation, expropriation, nationalization, deprivation (CEND) and forced abandonment.
2) Contract Frustration — coverage for losses due to the non-performance of a contract caused by a political event or the act of a government entity.
3) Political Violence — Coverage can also be extended to cover loss due to political violence such as: