Allied World launches suite of trade credit and political risk insurance products in Canada

Zug, Switzerland-based Allied World Assurance Company Holdings, AG announced on Thursday that its suite of trade credit and political risk insurance products are now available in Canada, as part of the Global Crisis Management Division (GCMD).

The coverage helps clients mitigate the risk of non-payment due to customer insolvency, protracted default and/or international political risk, Allied World explained in a media statement. The product also helps provide certainty around a company’s balance sheet by protecting accounts receivable against customer default with competitive and customizable policy features, the company, a global provider of property, casualty and specialty insurance and reinsurance solutions, said.

Kent Paisley, senior vice president of the GCMD and an industry veteran with more than 25 years of trade credit insurance experience, leads the product group and will serve Canada from Allied World’s Toronto offices.

“As global economies become more complex and interconnected, it’s prudent for companies to protect their balance sheets from the risk of non-payment and other critical financial risks,” Paisley said in the statement.

Todd Germano, executive vice president and head of the GCMD, said that the company is “pleased to bring this important coverage to the Canadian market. Our specialized approach allows us to craft solutions on a structured or short-term basis, tailoring coverage to meet client needs.”