This insurance protects companies trading with public and private counterparties against government sponsored acts before and after shipment of goods, including:

• Non-delivery for pre-paid goods; non-payment (contract frustration);
• Wrongful calling of guarantee or stand-by letter or credit;
• Unilateral termination of a contract by a foreign government;
• Cancellation of import and/or export licenses;
• Inability to convert and/or transfer foreign currency ;
• Non-honouring of payment instruments such as central bank guarantees or letters of credits;
• Refusal to pay arbitration awards;
• Embargo