IRC GROUP .:. International Risk Consultants .:. Asia

Main Products

Commercial Risks:

The credit and political risk insurance markets offer several types of products to meet the varying needs of companies. Whether for enhancing sales growth, cash flow or balance sheet management, or pure risk mitigation, IRC Asia can help you identify the right insurance product. The primary types of insurance cover are:

Credit Insurance, Export and Domestic: Export Credit Insurance protests against non-payment by debtors outside the country of the insured. Domestic Credit Insurance protests against non-payment by debtors inside the country of the insured. Insurers can write these types of cover either in distinct policies or on a combined basis;

Key Account/ Single Debtor: Key Account cover addresses issues of customer concentration or in those instances where the client is unable or unwilling to offer whole portfolio. Key Account policies may either cover one or accommodate multiple debtors;

Short and Medium Term Cover: A Special Risk Group (GRG) has been a long history in our Group. We closely work with our US and UK colleagues for exporters, importers and financial institutions to arrange coverage to protect against the risk of non-payment, arising from commercial and /or political risks, of short and/or medium term loans extended to foreign, usually private sectors, obligors. ECAs (Export Credit Agencies), AIG, Zurich, Chubb, Unistrat, FCIA Management Co. (New York), and Llody's of London are the main insurers we are working for in the market.

Political Risks:

Contract of Lenders Insurance: This type of medium-term insurance policy combines Confiscation, Expropriation and Nationalization (CEN), Currency Inconvertibility (CI), and Political Violence (PV) to protect the Insured (usually a financial institution) against non-payment of loans arsing from these perils;
CEN for Permanent Investments: Protects an Insured's investment against Confiscation by a foreign government;
CEN for MObile Assets: Protects an Insured against Confiscation of assets by a foreign Government;
Political Risk Insurance for Joint Ventures: Protects an Insured involved in a joint venture against such risks as Confiscation, Selective discrimination, Non-transfer of earnings and Arbitration award default, all in one policy;
Contract Frustration for Private Buyers: Protects an Insured against transfer risk (the inability of a foreign private buyer to obtain foreign exchange to make payments to the Insured), as well as other specified political risks such as license cancellation and embargo. This covers non-payment of promissory notes and guarantees arising from political risks.