Trade Credit and Political Risk Insurers

Government Agencies:

Export-Import Bank of the United States (Ex-Im Bank)

Ex-Im Bank is the official full faith and credit export credit agency of the U.S. Government. They provide insurance for exports containing at least 50% US content on a per item basis. Ex-Im Bank does not provide insurance for export sales to US territories. They insure short-term, medium-term, and lease coverage on a single-buyer basis, and offer a comprehensive multi-buyer policy. There is also a special program available for small businesses

Overseas Private Investment Corporation (OPIC)

OPIC is a United States Government agency. Its purpose is to encourage foreign investment in developing countries by providing a full range of investment guarantees, direct loans and investment insurance against political risk. Products include Inconvertibility, Expropriation, Political Violence, Direct Loans, Loan Guaranties, and Leasing Programs. Special Contractors & Exporters Programs are also available.

Private Property & Casualty Insurers:


The name Atradius was introduced through the rebranding of GERLING NCM in 2003, a global leader in credit insurance and credit management established in 2001 through the merger of the German credit insurance group Gerling-Konzern Speziale Kreditversicherung (Gerling Credit) and the Dutch credit insurer Nederlandsche Credietverzekering Maatschappij (NCM). Atradius is one of the world's largest credit insurers, with more than 160 offices in 50 countries. Atradius specializes in trade credit insurance, surety and collections services worldwide. Atradius offers under one policy, Modula, with ranges of modules to suite business' needs.

American International Group (AIG)

AIG is one of the world's largest global insurance organizations operating in over one hundred sixty countries. AIG offers multi-buyer export and domestic credit insurance coverage, political risk coverage for cross-border equity investments and specialized kidnap, ransom, and extortion coverage. AIG provides flexible program structures with over 30 years of experiences underwriting trade credit insurance.


Coface is a unit of the Coface Group, a world leader, with offices in 93 countries. The Coface group acquired CNA Credit in late 2002. In 2003, Coface was created to provide credit insurance policies directly to businesses in the United States. They are a major domestic and export credit insurer offering past due and insolvency coverage. The Coface Group is also the provider of the Veritas credit report and other credit reporting services.


Euler Hermes North America Insurance Company is the oldest and largest provider of trade credit insurance and accounts receivable management solutions. Euler Hermes has offices in more than 50 countries and 5 continents. Euler Hermes provides domestic credit, export credit and political risk coverage in over 200 countries and territories worldwide

Great American Insurance Company / FCIA Management Company

FCIA Management Company has provided credit insurance for over 50 years. In 1991, FCIA (prior management company for Ex-Im Bank’s insurance programs) became a subsidiary of Great American Insurance Company. Great American Insurance Group is a subsidiary of American Financial Group (AFG). FCIA offers export and domestic trade credit insurance as well as a wide variety of specialty trade credit and political risk products that facilitate global trade and related financing activities


HCC Credit Group is a market leader in trade credit and political risk insurance issued through three highly rated carriers: Houston Casualty Company, U.S. Specialty Insurance Company and HCC International, all subsidiaries of HCC Insurance Holdings, Inc. HCC Credit Group offers a full range of short and medium term coverages, including single debtor, multi-debtor, bank coverages and political risk policies on a worldwide basis


QBE is the newest credit and political risk insurer in the United States. Their parent QBE Insurance Group Limited is Australia's largest international insurance group. They are one of the largest credit insurers in the world with offices in 45 countries. QBE offers domestic and export trade credit insurance (commercial and political risks) for mid-size and larger companies with well established credit departments.

ACE Insurance / Chubb

ACE Limited acquired the Chubb Corporation in 2016, creating a global insurance leader operating under the Chubb name. ACE offers opportunities for medium to large sized corporate and global businesses to look at alternative ways of insuring their customer risk. ACE typically partners with companies that are experienced in credit management and who want a product to complement their credit management disciplines.

Allied World Assurance Company Limited

Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. AWAC provides trade credit, political risk, and kidnap and ransom through their Bermuda based team, Bermuda Treaty Reinsurance.


The Lloyd's market has consistently led the political risk insurance field. Political risk policies of all types developed as part of the marine insurance market and acquired its own special status within Lloyd's. Today, underwriting is lead by a half dozen syndicates at Lloyd's. Other syndicates in the marine and non-marine area will also participate on "political" risks. Comprehensive credit insurance policies may also be considered on a selective basis.

Sovereign Risk Insurance, Ltd. (ACE Bermuda Insurance Ltd.)

Sovereign is wholly-owned by and underwrites for ACE Bermuda Insurance Ltd. (“ACE Bermuda”). ACE Bermuda is the original insurance franchise of the ACE Group dating back to 1985. The ACE Group, headed by ACE Limited (NYSE: ACE), conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Sovereign provides political risk insurance and reinsurance and is one of the world’s leading underwriters of political risk insurance in emerging markets. Coverage types include: expropriation, currency inconvertibility / exchange transfer, political violence, sovereign and sub-sovereign, non-payment, unfair calling of bonds, non-repossession of aircraft or mobile equipment.

XL Caitlin

XL Group acquired Caitlin Group Limited and became XL Caitlin. XL Caitlin is a global insurance company headquarter in Ireland with offices in Hamilton, Bermuda and Stamford, CT. The company operates across 60 offices globally. XL Caitlin provides trade credit insurance on up to $50 MM a year for up to 7 years.


Zurich’s trade credit and political risk insurance is designed specifically for the unique risks and issues associated with emerging markets. They are part of the Zurich Group, a global insurance company. Zurich offers highly flexible trade credit policies for terms up to seven years. Their highly flexible political risk policies can extend up to 15 years. All the Zurich programs are meant for larger transactions that require standard or extended terms that the market dictates.

Waldorf Trade Risk Underwriting Managers, LLC (Liberty Mutual)

Waldorf Trade Risk is an insurance broker that specializes in Trade Credit Insurance and Accounts Receivable Insurance. Waldorf contracts with Liberty International Underwriters, an underwriting division of Liberty Mutual Insurance. Waldorf focuses exclusively on offering to the U.S. Small and Medium Enterprise (SME) market.

CW Excess (Excess Placements LLC)

C.W. Excess writes select buyer excess limit above a primary coverage. They work in cooperation with leading trade credit markets (i.e. Euler, Coface, et. AL)

Multilateral Agency

Multilateral Investment Guarantee Agency (MIGA):

MIGA is the newest member of the World Bank Group Their mission is to promote foreign direct investment into developing countries to help support economic growth, reduce poverty, and improve people's lives. MIGA provides political risk guarantees (insurance) for investments made in developing countries. Their guarantees protect investors against the risks of transfer restriction (including inconvertibility), expropriation, war and civil disturbance, and breach of contract.