Lloyd’s is proposing to transfer certain EEA insurance policies to Lloyd’s Brussels. The proposed transfer will not change terms and conditions of any policy, except that Lloyd’s Brussels will become the insurer and Data Controller in respect of the transferred policies. Further information about the proposal (including whether it could affect your pre-transfer position), which […]
Claims
The value of our products is demonstrated by ensuring that claims are paid in full and on time, and this underpins every aspect of our service to clients. Our claims record is testament to our leading position in the credit and political risk insurance (CPRI) market. Since our establishment, we have settled over 490 CPRI claims worth in excess of US$2.8 billion and arising from losses occurring in over 90 countries.
BPL Global claims since 1983
Our expertise and experience
BPL Global has collected over US$2.8 billion of claims since we were founded, which we believe is an unparalleled statistic amongst other brokers active in CPRI. We have significant experience and an excellent reputation with loss adjusters and insurers active in CPRI, which value our professionalism and breadth of experience.
For BPL Global, the key to ensuring successful claims collection begins at the time a policy is put in place. We place great importance on ensuring that policy wordings are clearly drafted and understood by our clients, following a thorough review of information and documentation pertaining to any transaction. We also employ a rigorous internal peer review system to ensure every new policy is thoroughly checked by a director who was not involved in placing the insurance contract. In the event of a claim, we guide our clients through the whole process – acting in their interests at all times to ensure that the claim is paid in full and on time.
BPL Global claims experience arising from loss in country
Claims from financial institutions constituted the bulk of the CPRI market’s claims collections since the global financial crisis – with just over US$3bn across 486 claims settled to such entities between 2007–2018 across the market as a whole, and US$500m paid in 2018 alone. BPL Global handled nearly 30% of these claims. (LMA survey, May 2019).
Our claims statistics
Our claims statistics – tracing back to 1983 and providing data by product type, country of risk, region and client type – give us unrivalled historical data, demonstrating not only our claims handling ability but also the performance of the CPRI market in general.
This data has been used by our clients as statistical evidence that the CPRI product works, for both their internal risk departments and external regulators. In recent years, this has been of particular value for those clients buying non payment insurance.
Due to the confidential nature of the policies we conclude, we are unable to provide more specific information on our claims statistics here – but please contact us for further details.
Find out what sets us apart:
In the news
Now that just over two months have passed since the World Health Organization declared Covid-19 a global pandemic, we have produced an analysis of how the crisis is affecting credit and political risk insurance (CPRI) and the response of our market thus far. Read it here.
The human consequences of the coronavirus pandemic are all too clear. The full economic impact of the various government lockdowns in place around the world are yet to emerge. However, even at this stage it is certain that the impact on the global economy will be massive: probably beyond any of our experiences. The impact […]
BPL Global has today published its annual Market Insight report revealing that the oil, mining, metals and extractive industries continue to make up the largest proportion of demand for CPRI coverage. Around a third of all BPL Global’s 2019 enquiries related to these sectors – of which around half were bank-financed deals. Commenting on the […]
BPL Global has today announced the appointment of Anna Morgan as its new Legal Director to support and advise on legal matters across all product lines and client bases. Anna will work closely with the claims department, as well as advising on regulatory matters and policy wordings. A qualified lawyer, with a background in finance […]
BPL Global has opened a UK Branch of its French subsidiary, Berry Palmer & Lyle SAS, to service its existing European Economic Area (EEA) business and be fully ready for Brexit, whatever final form it takes. Based in Paris, Berry Palmer & Lyle SAS has been serving the needs of French banking, exporter and corporate […]
Our Products: Exporters
Comprehensive non-payment insurance:
Pure political risk insurance:
Excess of Loss insurance:
