-Policy limit of USD 200 million
-Policy Period up to 2 years – longer tenors are available for certain single risks offered separately under our broad suite of Political Risk, Contract Frustration and Trade Credit products
Comprehensive non-payment coverage; Standard indemnity 90%; Typically deductible or excess layer structure; Discretionary Credit Limits with key account underwriting; Non-cancellable credit limits; Whole turnover, named buyer portfolios and single risk; No limits fees; Up to 360 day payment terms and up to 2 year policy period; Written on an admitted basis throughout the United States; Can cover both developed and emerging market buyer risks
Typical Information Required
– Summary of the portfolio to be covered and description of the products being sold
– Financial statements on privately held buyers
– Payment terms to be supported
– Trading history and receivables aging
– Description of credit process and procedures
Benefits & Services
– Capability to issue policies from the US, UK, Singapore, Bermuda, Canada, Brazil and Insurance segment's Lloyd’s syndicate 2003 to accommodate licensing and geographical location requirements. – Underwriting locations in New York, London, UK, Singapore, Sao Paulo, Toronto, Sydney, Washington DC, Madrid and Hamilton, Bermuda.
This general product description is informational only. It is neither an offer to sell nor a solicitation to purchase any particular insurance product. Products are subject to legal and underwriting requirements. Coverages may not be available in all jurisdictions, including without limitation any jurisdiction within the United States, and may be available only through appropriately licensed producers. In addition, GAPS’s provision of publications or services is not an indication of the existence or availability under any policy of coverage for any particular property or type of loss or damage. Policies underwritten from Bermuda, Brazil, Canada, China, Mexico, Switzerland, or written by XL Insurance Company SE are only available through non US-based brokers. The Insurance companies of XL Group Ltd are: Catlin Insurance Company, Inc., Catlin Indemnity Company, Catlin Specialty Insurance Company, Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company, XL Bermuda Ltd, XL Insurance Company SE, XL Insurance Switzerland Ltd, XL Insurance (China) Company Limited, XL Seguros Brasil S.A. and XL Insurance Mexico SA de CV. Coverages placed with Lloyd’s Syndicate #2003 are managed by Catlin Underwriting Agencies Limited and supported by XL Catlin corporate capital. Additional important information regarding our business is provided on our Legal Notices page.