DUAL UK, the underwriting arm of Howden Group Holdings, has launched a new Credit Risk Insurance (CRI) solution designed to help clients meet the challenges associated with cross-border trade and investment.
As a specialist managing general agent in the insurance market, DUAL UK provides underwriting expertise across a range of products. Its latest CRI product is designed to provide long-term protection against the risk of non-payment or failure to meet contractual obligations, helping businesses mitigate potential financial losses associated with international transactions.
The product is expected to appeal to a diverse client base including commercial banks, public sector institutions and global trading houses looking for customized risk transfer solutions.
Backed by an AA-rated syndicate of Lloyd’s of London, DUAL UK is able to underwrite contractual frustration risk for up to 15 years and credit risk policies for terms up to eight years.
Simon McGinn, CEO of DUAL UK, commented: “This launch marks an important moment for the DUAL and CRI market, and comes at a time when brokers and their clients grapple with increasingly complex cross-border risks. As global trading relationships transform, financial institutions have a growing need for long-term certainty and protection. By bringing a new AA-rated carrier into this class, we are expanding the level of specialist support available to organizations operating in these challenging conditions.”
“As an MGA, we combine deep expertise with the agility to move quickly and build effective solutions. I’m pleased we are able to provide our clients with this robust, carefully considered proposal.”
David Lineham, managing director of credit risk at DUAL UK, added: “The launch of our new CRI product marks DUAL’s first entry into the CRI market at a time of major geopolitical and economic realignment. As the world witnesses a shift from a unipolar to a multipolar order, with new alliances and evolving supply chain frameworks, demand for top-tier CRI continues to grow.”
The post DUAL UK launches credit risk insurance solution to sustain cross-border transactions appeared first on ReinsuranceNe.ws.