LPH Pitman is a foremost specialist in arranging and structuring Political Risk coverages for exporters of goods, services and finance to developing countries or into countries with unpredictable or difficult legal systems.

LPH has provided this expertise since 1983 and our innovation and product creativity were recognised by our receiving the Queen's Award for Export Success, for services to exporters around the world.

LPH Pitman designs policies to cover the needs of both large corporations and individuals placed in potentially dangerous environments:

• Failure to Honour Government Guarantee
• Insurance cover against the failure of Sovereign Guarantees
• Cover on ECA-linked commercial loans

LPH Pitman arranges insurance cover for financiers concerned that Government Guarantees offered against cross-border loans may not be honoured in the event of a default, and we work closely with all the major and niche political risk insurers and guarantors including:

• Commercial private insurers
• Government Export Credit Agencies
• Multilateral cover providers such as MIGA

Confiscation, expropriation, nationalisation & deprivation

LPH Pitman is the leading independent arranger of political risk insurance for cross border project finance and aviation finance. We provide complete protection against Confiscation and Expropriation of owners' or lenders' assets by the Government where the asset is located or registered. Coverage also is provided against the adverse intervention of the judicial system to disengage the owner's rights and title.

• 100% indemnity possible
• Cover available world-wide excepting UN sanctioned countries
• Selective discrimination and creeping expropriation covered

Contractors plant and equipment cover

Where an investor is intending to invest in a developing or unpredictable country, by introducing either movable plant or equipment into a new venture, the investor should consider obtaining Contractors Plant insurance, which provides the dual benefits of broad political risk cover against Confiscation and Expropriation, along with non-cancellable war physical damage coverage protecting their plant against civil war, strikes, riots and civil commotion.

This coverage is available for aggregate exposures of up to US$500 million. Click here for a proposal form (Word .doc).

Licence cancellation & export embargo

LPH Pitman structures Licence Cancellation and Export Embargo into political risk covers where defaults could occur due to loss of revenue resulting from foreign government or United Nations actions

• Cancellation/ Revocation /Non-Renewal of Operating, Exploration, Operating Licence
• United Nations sanction
• Unilateral embargo

Currency inconvertibility & non-transfer

• Inability to exchange funds from host nation currency
• Inability to transfer funds cross-border

LPH Pitman is a provider of insurance cover against inconvertibility and transfer risks. The protection can be as a stand-alone policy or structured as part of a multi-facetted political risk cover.

Political violence

Specialised coverage protecting an investor's assets against War physical damage exposures to their assets whilst they are located in unstable jurisdiction, cover protects against:

• Riots, Strikes & Civil Commotion
• Malicious damage
• War on land
• Forced abandonment

LPH Pitman can assist lessors and financiers with exposures in countries where the breakdown of law and order puts commercial operation at risk.

Political risks excess of loss

• Global political risk excess of loss covers allowing incremental exposures in excess of country limit aggregates

LPH Pitman arranges economically priced insurance that allows financiers to meet their clients' financing needs in countries where the bank's provisioning rules would otherwise force them to stop making loans.

Aviation judicial delay

• Aircraft lease payment protection up to 6 months following lessee default

LPH Pitman can place lease payment protection following default on most sovereign and privately held airlines.

Minerals/precious metals hedge political risks insurance

• Full risk coverage on non-fulfillment of contracts due to political events

LPH Pitman formulates political risk covers for financiers involved in providing hedges for natural resources where contractual non-fulfillment for political reasons is an issue.

Kidnap & ransom insurance

• Covers tailored for all countries
• Facilities placed in the Lloyd's market

24 hour response to events.

Asset non-repossession

• Confiscation, seizure, detention by the foreign government
• Inability to exercise legal rights under lease/finance agreement
• Inability to remove the asset physically
• Inability to de-register
• Inability to obtain proceeds of sale following divestment in the foreign country
• Inability to repossess due to UN sanction

For more information please contact broker@lphpitman.co.uk