Special risks contacts www.miller-insurance.com SPECIAL RISKS
Special risks SPECIALISTS Our team is multi-disciplined and has extensive experience in handling a range of specialty classes. We are leaders in the design, broking and servicing of global specialty risk insurance programmes. POLITICAL RISKS Confiscation, expropriation and nationalisation Coverage protects the insured s assets and/or investments against financial loss resulting from government actions or inactions leading to confiscation, expropriation, or nationalisation by a foreign government. Deprivation, embargo and licence cancellation can also be included. Contract frustration and repudiation This coverage focuses on the performance of a contract. It provides protection against frustration of the contract caused by the government when acting as a counterparty. PROJECT FINANCE (LENDER S INTEREST) Banks and lenders to overseas projects can be exposed to potential losses resulting from government actions or inactions. This can prevent loan repayments being made by the project company within the host country of the project. Coverage is specifically tailored to protect the lender s interest and can be arranged for 10-15 year periods. TRADE FINANCE (CREDIT) Provides cover for the non-payment of a trade debt in the event of a buyer s insolvency or default. Cover levels are available for up to 95% of the outstanding debt dependent on programme structure. The cover is specifically for business-to-business trade debts and transactions, rather than consumer debts. A benefit of this form of protection is that it can enable access to finance at reduced cost, with non-cancellable limits for individual specific buyers or portfolios of buyers.
POLITICAL VIOLENCE & TERRORISM The Arab Spring has highlighted the need for comprehensive coverage with no gaps which compensates a company following physical loss or damage to assets as a result of individuals or groups acting with political, religious and/or ideological objectives, with or without government involvement. Perils include: War/civil war Mutiny Coup d état Revolution/rebellion Insurrection or any hostile act by a belligerent power Strikes, riots, civil commotion Malicious damage Sabotage Terrorism MARINE CARGO, STOCK THROUGHPUT AND TRADE DISRUPTION (TDI) Our integrated approach to supply chain insurance provides standard physical damage coverage to goods in transit (marine cargo) and/or in store on a worldwide basis (stock throughput). We are also market leaders for financial protection against non-physical damage supply chain disruptions (TDI). Coverage includes: Assets Financial consequences Extensions to supply chain cover can include Marine cargo, inventory and/or stock throughput (cargo and inventory combined) Consequential loss, delay in start-up and advance loss of profit, TDI Political risks, war, political violence, trade credit and insolvency
www.miller-insurance.com CONTACT US * firstname.familyname@miller-insurance.com Timothy Press Head of Special Risks +44 (0)20 7031 2685 a +44 (0)7876 545 899 David Eliot Political violence/marine cargo +44 (0)20 7031 2683 a +44 (0)7795 333 388 Emma Clack Marine cargo +44 (0)20 7031 2615 a +44 (0)7815 907 307 James Cunningham +44 (0)20 7031 2657 a +44 (0)7788 628 749 Arnaud Froideval - Paris office +33 (0)1 7132 1015 a +33 (0)6 4841 4121
Special risks contacts Thomas Holmes +44 (0)20 7031 2678 a +44 (0)7786 748 367 Jamie Kearney Marine cargo +44 (0)20 7031 2555 a +44 (0)7557 745 736 Richard J Miller +44 (0)20 7031 2617 a +44 (0)7557 391 307 Ewan Wauchope Political violence +44 (0)20 7031 2730 a +44 (0)7887 954 071
ABOUT MILLER Miller is a leading specialist insurance and reinsurance broker, operating internationally and at Lloyd s. No external shareholders so free to act in our clients best interests Award winning claims service embedded within business streams 2012/13 revenues of USD166m (GBP107.3m) 36% organic growth in the last 3 financial years combined USD2.5bn premium per annum placed on behalf of clients Continual investment in people, products and technology Over 550 people worldwide 5th largest premium provider to Lloyd s Ranked 8th largest reinsurance broker globally Placing platforms in Bermuda, London and Singapore Miller Insurance Services LLP Dawson House 5 Jewry Street London EC3N 2PJ +44 (0)20 7488 2345 7 +44 (0)20 7702 3555 www.miller-insurance.com Miller Insurance Services LLP is a limited liability partnership registered in England and Wales; Registered Number: OC301468; Registered Office: Dawson House, 5 Jewry Street, London EC3N 2PJ. Authorised and regulated by the Financial Conduct Authority. M073.04 0214.MC