Assurance et réassurance
Podcast: Trade Credit Bitesize
Our global political risk & trade credit team advises leading political risk and trade credit insurers on product development, claims, recoveries and international disputes.
We act in cases involving a range of jurisdictions, often in very difficult markets, and including matters of international and local laws as well as insurance issues. We have been instrumental in product development and handle issues arising throughout the lifecycle of risk.
We act for insurers in London, the US, Europe, the Middle East and Asia Pacific, and have partnered with clients on all of the major crises affecting the political risk and trade credit markets over the last 30 years. Some notable examples include advising on claims arising from the Arab Spring in Egypt and Libya, bank collapses in Ukraine and Kazakhstan following the global financial crisis, and the 2010 disturbances in Thailand.
We are experienced in the preferred forums for dispute resolution in this class, particularly the London Court of International Arbitration and the Commercial Court in London, and in arbitrations under the rules of the ICC and UNCITRAL.
Advising on claims arising from the Arab Spring and advising on the impact of domestic and international trade and economic sanctions imposed upon Iran, Libya and Syria
Advising on various claims arising out of the pesification regime in Argentina, with the focus being on whether changes to payment arrangements provided to concession holders constituted “expropriation” within the wording of the London market policy.
Advising a bank on political risk cover for investments in lead and zinc mines in South America
Successfully defending the Dispute Clause in a large export credit insurer's accounts receivable (shipments) policy for the fifth time before Canadian courts, including favourable decisions of both the Quebec and the Ontario Courts of Appeal.
Successfully representing a political risk insurer in a LCIA arbitration relating to Venezuela
Advising the successful Lloyd’s underwriters in their defence of the only reported decision of the English courts in recent times relating to political risk insurance; International Lottery Management v Dumas, which relates to issues of non-disclosure and misrepresentation with respect to...
Acting for credit insurers in a subrogated recovery action against the Chinese aluminium plant primary debtor and its associated debtor/guarantor companies in Hong Kong and the PRC. This matter involved complex dispute resolution and governing law provisions due to the underlying export contract...
Acting for political risks insurers in CEND claims involving power plants on the Indian subcontinent
Continuing involvement in the ground-breaking Pertamina case which remains the largest recovery action in the political risk market (around USD 300 million) against Indonesian State Oil & Gas Co
Advising on the 2010 disturbances in Thailand as well as acting for an export credit insurer of a steel trader in respect of the trader’s pre-export finance facility with a Thai steel mill
Advising on claims stemming from bank collapses in Ukraine and Kazakhstan following the global financial crisis
Advising on issues arising under the contract frustration, export credit and political risk policies from the international financial crises affecting the Far East, the former Soviet Union and Latin America, both in respect of trade and investment
LCIA arbitration arising out of the avoidance of a trade credit insurance policy on the basis of the insured's non-disclosure and misrepresentation as to its financial practices that effectively removed its self-insured retention.