When you trade or invest across borders, your balance sheet is at risk. In commodities, where pre-payment is common as a means of financing production and guaranteeing long-term supply, non-payment or non-delivery can have a devastating commercial effect. We help you protect yourself against these sorts of risks with our political and credit risk insurance team.

PRODUCTS AND SERVICES

Political and Credit Risks

Get in touch (opens a new window)

We focus on the risks associated with cross-border trades and investments

When you trade or invest across borders, your balance sheet is at risk. In commodities, where pre-payment is common as a means of financing production and guaranteeing long-term supply, non-payment or non-delivery can have a devastating commercial effect. We help you protect yourself against these sorts of risks.

We also help you manage political risk. Foreign government actions like war, trade embargoes and expropriation can affect your bottom line, costing you tens or hundreds of millions. They can even cause you to write off your investment completely. The longer your trade or investment agreement, the greater the uncertainty – and the more you need cover.

We arrange insurance coverage that protects you against political and counterparty risks in trade transactions. We work with commodity traders and the banks that finance them, as well as with equity investors who have subsidiaries or physical assets abroad. Clients include the leading banks, construction companies, international commodities traders,  industrial companies, miners, oil producers and exporters.

What we cover

We’re more than an insurance broker – we’re a partner helping you protect your balance sheet.   We investigate the insurance market to find counterparties who’ll take on your political and trade credit risks at a premium you’re comfortable with.

We’ll advocate for you and negotiate hard on your behalf. As well as this, we’ll:

  • Analyse your risk and identify areas where a government action may threaten your investment

  • Study your contracts and recommend changes if needed to make them insurable

  • Suggest ways to structure your risk to reassure underwriters, such as obtaining collateral or guaranties

  • Get underwriters more closely involved with you and your risk to develop a true partnership

  • Advise you on the best way to manage your risk, not just the best insurance to buy

Our Political & Credit Risk Insurance Team

Placeholder image

Russell Winter

Partner
russell.winter@lockton.com
+44 207 933 2149

Placeholder image

Peter Hornsby

Partner
peter.hornsby@lockton.com
+44 207 933 2190

News and Insights

Mid-life employees (ages 44-59) are likely to find their pensions impacted further than other generations, and a significant number may not have saved consistently enough for a comfortable retirement.How employers can support mid-lifers to build financial resilience

Law firms: should you purchase a wills bank?

A wills bank is a centralised storage system for original wills and estate planning documents, often used by law firms to manage and safeguard clients' testamentary documents.

Purchasing a wills bank can provide law firms with long-term client retention and business opportunities. However, it also comes with regulatory responsibilities under the Solicitors Regulation Authority (SRA) Code of Conduct and potential implications for your insurance.

In this article we explore the advantages and disadvantages of purchasing a wills bank, the compliance and insurance risks to consider, and how risk mitigation can help you overcome some of the disadvantages detailed below.A wills bank is a centralised storage system for original wills and estate planning documents, often used by law firms to manage and safeguard clients' testamentary documents.

Purchasing a wills bank can provide law firms with long-term client retention and business opportunities. However, it also comes with regulatory responsibilities under the Solicitors Regulation Authority (SRA) Code of Conduct and potential implications for your insurance.

In this article we explore the advantages and disadvantages of purchasing a wills bank, the compliance and insurance risks to consider, and how risk mitigation can help you overcome some of the disadvantages detailed below.

Cyber-physical risk in the marine sector: a wake-up call from the MSC Antonia

The recent grounding of the MSC Antonia near the Eliza Shoals off Jeddah on 10 May 2025 has brought into sharp focus the real-world consequences of cyber-physical attacks in the maritime sector – and particularly within the MENA region. Analysis by respected maritime intelligence firms such as Pole Star Global and Windward indicate that the vessel's navigational systems were likely compromised by GPS jamming, leading to incorrect positioning data and ultimately to the grounding incident.

This event underscores the growing cyber threat to vessel movement in the region – one with potential outcomes including groundings, collisions, and environmental harm. For MENA, where critical trade routes such as the Strait of Hormuz and the Suez Canal are lifelines of global commerce, the implications are particularly serious. Regional security dynamics, increased reliance on digital systems, and proximity to cyber-capable nation-state actors elevate both the frequency and severity of these risks.

Despite this, in our work with marine clients across the Middle East and North Africa, we continue to observe a significant disconnect between emerging cyber threats and existing risk transfer arrangements. That gap must close before the next incident occurs.
The recent grounding of the MSC Antonia near the Eliza Shoals off Jeddah on 10 May 2025 has brought into sharp focus the real-world consequences of cyber-physical attacks in the maritime sector – and particularly within the MENA region. Analysis by respected maritime intelligence firms such as Pole Star Global and Windward indicate that the vessel's navigational systems were likely compromised by GPS jamming, leading to incorrect positioning data and ultimately to the grounding incident.

This event underscores the growing cyber threat to vessel movement in the region – one with potential outcomes including groundings, collisions, and environmental harm. For MENA, where critical trade routes such as the Strait of Hormuz and the Suez Canal are lifelines of global commerce, the implications are particularly serious. Regional security dynamics, increased reliance on digital systems, and proximity to cyber-capable nation-state actors elevate both the frequency and severity of these risks.

Despite this, in our work with marine clients across the Middle East and North Africa, we continue to observe a significant disconnect between emerging cyber threats and existing risk transfer arrangements. That gap must close before the next incident occurs.

Law firms: unlocking the benefits of effective management

Recent years have seen a positive shift in the legal sector: from coping with stress, to making the workplace a better and more supportive place to work. But despite some signs of change, many firms continue to struggle when it comes to delivering effective management. Solving this problem can be hugely beneficial, not only helping to avoid stress among staff, but also mitigating people and compliance risks, and supporting efforts to attract and retain staff.Recent years have seen a positive shift in the legal sector: from coping with stress, to making the workplace a better and more supportive place to work. But despite some signs of change, many firms continue to struggle when it comes to delivering effective management. Solving this problem can be hugely beneficial, not only helping to avoid stress among staff, but also mitigating people and compliance risks, and supporting efforts to attract and retain staff.
See all news and insights

We're here to help

We bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.

Talk to our team