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BPL Global is proud to announce its support for Street Storage, the only service in the UK specifically providing free, safe, and accessible storage to those experiencing homelessness.

The importance of keeping items safe can be (and has been) overlooked when it comes to homelessness, with people sleeping outside at particular risk of having their belongings targeted. In response to this, Street Storage has so far provided storage for 270 people experiencing homelessness, and it continues to adapt and grow its capacity.

BPL Global backs award-winning London charity Street Storage
Award-winning London charity Street Storage

(Credit: Street Storage)

The charity also provides 1:1 advocacy, advice and signposting, as well as a storage transportation service to transport belongings to and from sites, and supported people through the pandemic through street outreach, PPE distribution, the coordination of a homelessness vaccination scheme and by working shifts in the “Homeless Hotels” during the pandemic.

BPL Global’s partnership with Street Storage will help the award-winning charity grow into their new London HQ, as the need and demand for their service has ramped up. Indeed, in the last two years, Street Storage has seen a 318% increase in referrals from partner agencies, including St Mungo’s, Shelter, and Crisis, reflecting the impact of the cost-of-living crisis.

“Street Storage’s relationship with BPL Global has been truly project changing.,” says Rachel Woolf, Founder and Director of Street Storage. “The support they have given us as an organisation has been invaluable – not only to Street Storage, but to me personally as the leader of a charity facing unprecedented demand and huge growth.”

“We are proud to be providing Street Storage with the needed support in expanding their operations and promoting the essential work that Rachel and her team are doing”, says Alex James, Senior Broker, BPL Global. “It is encouraging that as a corporate partner, we can make a lasting difference to the lives of those experiencing homelessness. We look forward to deepening our partnership and helping Street Storage in creating long-term, positive social change.

To find out more about Street Storage and how you can support their work, visit the website, or follow them on Instagram.

Further information on the organisations BPL Global has supported can be found here.

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Founded in 1983, BPL Global has grown to become the leading specialist CPRI broker for multinationals, banks and financial institutions. Established amidst a fast changing, newly entrepreneurial culture within the London insurance industry, BPL Global’s achievements have been closely intertwined with, and shaped by, the evolution of the insurance industry and CPRI market.

To celebrate our anniversary, we take a look back at key milestones of the last four decades.

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BPL Global is dedicated to supporting charities and causes, both locally and internationally, which address pressing societal and economic issues.

One of the initiatives that has recently caught our attention and support is Insulate Ukraine – a project that temporarily restores bomb-damaged windows in homes and municipal buildings across war-torn Ukraine, while investing in people, boosting employment, stimulating commerce, and fostering energy efficiency. As the project’s first corporate sponsor, we were privileged to contribute to this rapidly growing initiative that is changing lives in some of the worst hit regions in Ukraine, including in Lyman – a city which sits on the Eastern Front and is one of the worst affected areas of the country. This initiative paves the way for an improved quality of life for the residents of Lyman, offering them a sense of security in these challenging times.

(Credit: Insulate Ukraine)

As of today, Insulate Ukraine has installed 745 windows in 110 homes, as part of its project in the city of Lyman. With these windows, the wellbeing of over 160 people has been positively impacted, their homes now receiving natural light and insulation from the colder months ahead. The team is working towards its target of 1200 windows, with five people on the ground installing windows, backed by BPL Global’s recent donation.

We look forward to continuing to support Insulate Ukraine over the coming months, as it looks to expand its work into further towns and cities in eastern Ukraine.

To find out more about Insulate Ukraine and how you can support the project, visit the website or follow them on Instagram.

Further information on the organisations BPL Global has supported can be found here.

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BPL Global’s James Cook and Jonny Carruthers joined Özlem Özüner from Allianz Trade for a new edition of the LIBF Centre for Digital Banking & Finance Trade Finance podcast series. The discussion focuses on the history and future of Trade Credit Insurance, provides insights into technological advancements and embedded finance, and delves into e-commerce innovations..

“Technological transparency gives visibility to insurers and banks into their financing, which is always going to be a positive development when it comes to security,” comments Jonny Carruthers. “So you can have real-time data surrounding invoices and payments that have been generated.”

Listen to the full conversation

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We are pleased to announce a number of changes to BPL Global’s senior management team as part of the latest steps in our succession plans and long-term commitment to remain an independent, employee-owned broker.

Our two Managing Directors, James Esdaile and Sian Aspinall, move into new roles. James becomes Chairman, assuming the role from Charles Berry. Sian becomes Group CEO, and both she and James will remain board members of the group’s operating companies in the UK, France, Singapore and New York. Charles Berry will remain actively involved with the business and a member of our Group Board as Founding Director.

Separately we can announce two promotions within our senior management team: Charlie Radcliffe and James Reynolds will assume the role of Deputy CEO. Charlie joined BPL Global in 2008, becoming a Director in 2014, while James joined the company in 2014 and was made a Director in 2017. During their careers to date, Charlie and James have gained a wealth of experience handling some of BPL Global’s most important client relationships while both managing large teams of brokers. In their new roles, they will assume additional responsibilities for strategic and operational matters across the group, working closely with James Esdaile and Sian Aspinall to maintain high service level standards for our clients and helping steer the company’s future course in the specialist CPRI class.

BPL Global Founding Director, Charles Berry, says: “James and Sian have played a vital role in our development over the last seven years, overseeing substantial business growth while navigating the company through many challenging issues including extensive legal and regulatory reform, Brexit, a global pandemic and the increasing digitalisation of our market. They will continue to lead the company. Looking ahead, though, I am delighted that James Reynolds and Charlie Radcliffe will be stepping up to the role of Deputy CEO to support BPL Global’s response to these and other new challenges.”

Refugee routes Bike Project
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This summer, BPL Global is supporting The Bike Project, an innovative UK-based charity helping refugees and asylum seekers, many of whom are fleeing the war in Ukraine.

The Bike Project supplies refurbished bicycles to refugees looking to build a new life here in the UK. It might sound like a simple act, but a bike is a much-needed mode of transport for those experiencing significant financial and cultural hurdles. It means better access to services such as food banks, education, healthcare, and advice, as well as a form of exercise and the associate wellbeing benefits.

So far, the organisation has provided more than 9,500 bicycles to refugees arriving in the UK from places like Syria, Iran, Afghanistan, and recently Ukraine. Many of those helped by The Bike Project include vulnerable people and unaccompanied minors, with the youngest recipient aged just two years old.

As a charity, it relies solely on donations to cover professional refurbishment and delivery as well as support services, with each gifted bike costing around £100.

To support The Bike Project, BPL Global will be sponsoring staff as they participate in virtual cycling challenges over the summer, donating £3 for every mile cycled.

Each Refugee Route challenge represents a common journey made by refugees, ranging from Calais to Dover (51 miles), Damascus to Izmir (918 miles), and even Mariupol to London (1996 miles).

Five teams have already signed up: three from BPL’s London office, one in Singapore and one in New York. In total, they have committed to cycling over 5,000 miles by the end of September, with at least one team vowing to take on the 1996-mile Mariupol to London route.


“The Bike Project is incredibly grateful for BPL Global’s generous commitment of donating £3/mile cycled in their Refugee Routes challenge. With a goal of 5,000 miles, BPL’s contribution has the potential to help us refurbish and donate 180 bikes to asylum seekers and refugees. A bike is more than just transport, it supports wellbeing, improves access to support services and helps integration in the UK. Thank you!” – The Bike Project


We will be posting regular updates to the BPL Global LinkedIn page on the progress of our teams and our fundraising targets, so stay tuned.

To find out more about The Bike Project, visit

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In light of recent geopolitical events, Anna Morgan, Legal Director at BPL Global, addresses some of the questions that have arisen around sanctions clauses in non-payment policies, specifically the market standard ‘LSW 1865’, and sets out some key points to consider.

Is non-payment due to sanctions covered under a standard non-payment policy wording?

The short answer is yes. That is the beauty of a properly drafted comprehensive non-payment policy. It covers non-payment, regardless of cause. The precise cause of loss does not have to be specified in the policy.  Further, the BPL policy wording does not, and any policy wording eligible for treatment as an unfunded guarantee under the EU Capital Requirements Regulation (“CRR”) would not, include an exclusion for non-payment caused by sanctions.

How will the operation of the sanctions clause contained in my non-payment policy affect payment of a claim?

It will depend on the drafting of the clause. The BPL policy wording and the vast majority of non-payment policies that we see contain a sanctions clause in the form of the London standard wording ‘LSW1865’ or substantially similar.  Taking LSW1865 as a basis, it establishes that neither Insured nor Insurers are obliged to do anything under the policy that would cause them to breach sanctions to which they are subject.  The key points are that i) the clause covers the relationship between the Insured and Insurers and their respective obligations under the policy. The clause is not triggered simply by sanctions being imposed on an Obligor; the sanctions must apply to the insurance relationship between Insurer and Insured and each party’s obligations in that context. And ii) the clause deals specifically with sanctions that apply to the Insurer and Insured named on the policy, not sanctions at large.

Under what circumstances will this sanctions clause come into play?

They are not as wide as they first appear. Indeed, taking into account the objective of sanctions and the fact that a claim payment does not aid the Obligor nor discharge its debt obligation but rather supports the Insured in complying with sanctions, there is a sound logic for sanctions not to prohibit payment of a claim or continued cover under an existing policy.  Of course, whether sanctions do prohibit the performance of policy obligations depends on the detail and scope of the sanctions set by the relevant authorities.  The position continues to evolve and each organisation needs to make its own determination regarding the application of sanctions.  It is worth noting that if either Insurer or Insured wanted to rely on the sanctions clause in the policy to avoid performing an obligation, including payment of a claim, then it would have the onus of proving that the circumstances described in the clause have arisen.

If sanctions prevent payment of a claim, what does the clause require of the Insurer?

If it is the case that the relevant sanctions prevent an Insurer from paying a claim under the policy, then the clause requires the Insurer and Insured to co-operate in good faith, and for the Insurer to use best endeavours (which is a pretty high bar) to enable claim payment, for example, by obtaining a formal license or exemption from the regulating authority.

Is an Insurer still liable under the policy if an exemption is not obtained? 

If an exemption is not obtained despite best endeavours, an Insurer is not automatically relieved of liability under the policy.  The effect is rather that an Insurer cannot be forced to make a payment that would be in breach of sanctions.  Sanctions would have to require the winding-up of the insurance policy for that to happen.  In summary, the existence of sanctions does not give insurers an easy ‘out’ under an existing non-payment policy.

Does this apply to all sanctions clauses?

The above considers LSW1865. More bespoke sanctions clauses and different LMA clauses for different types of cover should be considered separately. Do get in touch if you would like to discuss any of these issues further with us.


The above article is intended for general information purposes only and should not be relied upon as a substitute for external advice should you have specific questions or concerns.

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BPL Global has joined a City-wide effort to support the East End Community Foundation (EECF) in the charity’s Covid relief fund – the Life Chances campaign – as a founding campaign partner.

The EECF has launched the Life Chances campaign to support vulnerable and underrepresented communities in the East End of London that have been hardest hit by the Covid-19 pandemic.

The campaign aims to generate £5 million to invest in grassroots organisations operating within Hackney, Tower Hamlets and Newham to tackle issues such as youth unemployment, digital exclusion, elderly isolation, mental wellbeing, and poverty head on.

The Life Chances campaign is calling on businesses in the City of London to create a better future for those affected by the pandemic in the East End. BPL Global has announced its support as a founding campaign partner.

Bronek Masojada, Chair of the East End Community Foundation, said “I am delighted that BPL Global is supporting our Life Chances campaign. Their generosity will help ensure that fewer elderly people will go without seeing or speaking to anyone, that more families will have internet provision and the opportunities this opens up, and that more young people will be supported into work.  BPL Global’s support of the EECF Life Chances campaign is helping the East End to thrive as we know it can.”

The EECF is part of the UK Community Foundations network that channels support and donations from philanthropists, corporates, government and other organisations local to the East End to help the area’s most disadvantaged. To date, the foundation has raised and distributed £27 million to support projects in Hackney, Tower Hamlets, Newham and the City.

In 2020, the non-profit organisation invested £1.6 million in charitable programmes, helping to support 90,000 vulnerable and underprivileged people.

“We are proud that we are able to provide Partner level support to the East End Community Foundation’s Life Chances campaign,” says Matthew Graham, Compliance Director and Chairman of BPL Global’s Charity Committee. “Hackney, Tower Hamlets and Newham are very close to our offices here in the City of London and so we feel a real connection to the communities that will be impacted by this initiative. By joining with other institutions in the City and beyond, together we can ensure grassroots organisations get the funding they desperately need and help vulnerable people in the local area recover from the crisis caused by the Covid-19 pandemic.”

BPL Global has pledged to support the Life Chances Campaign for the next three years.

Further information on the organisations BPL Global has supported can be found here.

Find out more about the East End Community fund here.

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We are proud to announce that Geraldine Gan and James Lord have been recognised in the Political Risk and Credit category at the prestigious 2021 Lloyd’s Asia Broker Awards.

Broker Geraldine Gan and Assistant Director James Lord have made a notable impact on Lloyd’s platform in Singapore this year, with the award reaffirming the professionalism, expertise and innovation they have deployed in their business conduct, as well as their success in advancing standards in the Asia-Pacific insurance market.

With the award ultimately presented to Geraldine Gan, Lloyd’s recognition reaffirms some of the great work both brokers have undertaken over this past year.

Commenting on the awards, Hayley Ek, CEO of BPL Singapore, said: “It is fantastic to see our diligent brokers, Geraldine and James, celebrated in this way. We strive to provide a market-leading service for our clients across all regions, but to have received this recognition from Lloyd’s itself is testament to the high standards and hard work of our Singapore team. We look forward to continuing to bring our award-winning services to clients in 2022 and beyond.”

As part of the awards, Lloyd’s will be supporting both the PeopleStories Charity Foundation – which is committed to providing greater access to education for Cambodia’s rural communities – and Beyond Social Services – a voluntary organisation in Singapore that helps children and young people feel a sense of belonging.

Congratulations to Geraldine and James.

Find the full list of award winners here:

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Sian Aspinall, Joint Managing Director at BPL Global, sits down with Markel’s Trade Credit Head of Business Development, Simon Philpin for the latest instalment of the ‘Class Conversation’ podcast, discussing key issues and developments in the credit and political risk insurance market

Sian and Simon take an in-depth look at the latest trends in credit and political risk, including the impact of Covid-19 on the industry, the changing demographics of enquiries, and digital innovations such as BPL Sphere.

Sian discusses the CPRI landscape in the wake of the pandemic and how the industry managed to adapt quickly – allowing clients to exercise their business continuity planning. In addition, BPL Global reported an uptick in corporate unsecured lending enquiries as well as project finance deals in the renewable space. Finally, they look at how the pandemic pushed ‘technophobes’ to get to grips with technology.

Listen to the full podcast here: