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Policies insure against pre-shipment and/or post-shipment risks on contracts with a government-owned obligor (also referred to as a Public Buyer).
Pre-shipment risks include import or export embargo; buyer's country frustration of the contract; war and political violence; contract repudiation and failure to honor an arbitration award.
Post-shipment risks include nonpayment or failure to honor a letter of credit. Coverage for pre- and post-shipment risks can be combined in one policy.
*Non-cancelable limits: subject to policy terms and conditions, after issuing the policy the insurer may not unilaterally reduce any country or buyer limits, except for non-payment of premiums.