JLT Specialty's Credit, Political and Security Risk advisory and broking services enables our international clients to secure growth and deliver enhanced results to their stakeholders.

The team has put together answers for a series of questions frequently asked by our global clients related to real-life scenarios. Please contact us if you would like to discuss any of the answers in more detail.


Having the appropriate insurance policy will enable your company to mitigate the risks associated with a suspected cyberattack. There is a new type of policy that has evolved from the traditional kidnap and ransom insurance and offers a more holistic security risks coverage. This policy can be triggered ‘on imminent threat of’ or ‘on suspicion of’ a potential cyberattack or compromise.

It is designed to assist your company in handling the critical first response to a potential crisis event by providing immediate access to professional cyber security experts and crisis consultants. These professionals will support your company in identifying the issue and installing appropriate security measures to ensure that the crisis is isolated, mitigated and avoided. They will also help the company with internal and external messaging to key stakeholders.

By providing an immediate and professional response, the consultants can proactively ensure that your company's data is secure and ultimately, your brand, reputation and integrity remain intact.

You can purchase an emergency evacuation policy for natural catastrophes. This type of policy would enable your trapped staff to receive immediate advice from professional evacuation and security consultants on what to do and how to stay safe until the consultants reach the affected location and implement procedures to evacuate and/or repatriate them.

If your employee goes missing abroad, having a security risks (kidnap and ransom) policy can be invaluable for you. This will give you access to a 24/7 emergency hotline for advice and assistance from world-class security consultants who will support you in locating the missing person. If necessary, they will be deployed to the incident location and the company headquarters to assist in the safe and timely resolution of the incident.

Yes, there is a new corporate security insurance solution which will give you access to advisors who will not only provide response assistance but also conduct an initial threat assessment to determine whether the threat is real, or a simple hoax from a disgruntled ex-employee or client. Based on the findings, the advisors will help you to manage the incident so that your people, assets, brand and reputation are protected.

You could have taken out an emergency evacuation coverage which responds to political and security risks. This coverage would give you 24/7 access to a team of evacuation specialists who would advise you on what is happening on the ground, and whether an evacuation/ repatriation is necessary or the situation will normalise after 24 hours.

They would also advise you on personal security measures for staff on the ground and whether the employees should remain in their hotel until it is safe to leave or continue with the conference.

If an evacuation is necessary, a team would be deployed to move the employees to the nearest place of safety from where they would eventually be repatriated.

Yes, there is. Active assailant and assault covers under a security risks (kidnap and ransom) policy provide assistance on the ground, ensuring that you are provided with real-time updates about the situation. You will also have peace of mind as consultants on the ground will manage the extraction of your staff to safety, if required.

Having threat coverage – an extension to a political violence policy – will enable you to claim your loss of earnings and the cost of evacuating staff from your insurer. The political violence policy will also cover the costs that you incur for any property damage.

Companies whose employees travel for business purposes should consider taking out Kidnap and Ransom insurance. The security coverage under this policy provides access to a 24/7 helpline and advisors who will provide immediate telephonic advice.

The advisors will be deployed to both the company's corporate headquarters and the location of incident to provide support for the entire duration of the crisis, until the safe and timely release of the victim. The consultants will advise the company on negotiation strategy, corporate communications, and family liaison.

Yes, there is a new type of corporate security response product which is designed to provide covert and discreet advice and investigate any potential corporate espionage. Having this policy will put you in a position to pursue your concerns more formally with the authorities and also ensure that you follow the correct and legal processes.

If you have the newly developed holistic security risks coverage, it would give you access to emergency responders who would assist you in dealing with the fallout from the event, including any PR issues. The policy would also pay for legal liability issues and temporary security at the site to ensure the employees feel safe.

You could have purchased Credit insurance to protect your business against non-payment risk. Credit insurance provides cover against commercial risks, which include customers being unable to pay outstanding invoices because of financial reasons such as declared insolvency and their failure to pay within agreed timescales as set out in the contract, including protracted default.

Comprehensive credit insurance covers non-payment for any reason including political risks such as currency inconvertibility and non-transfer.

Political risk insurance covers the confiscation, expropriation, nationalisation and deprivation of foreign owned overseas assets by the host government in that country. It also covers the forced divestiture of the investment or by order of the insured’s own government. The cover is subject to a waiting period or ‘test of permanency’ of 180 days, following which if you are still denied access to and therefore unable to realise the value of your investment in the overseas asset, a claim would be paid under your PRI policy.

 Political risk Insurance will provide cover for lost or damaged inventory and stocks resulting from the Forced Abandonment of an asset due to Political Violence activity. There is a test of permanency applicable of 180 days.



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