The Hartford has launched into the credit and political risk insurance (CPRI) market with the release of two new products.
The announcement comes a few months after the underwriter hired Jared Kotler to head its new CPRI division, who joined from Validus Group.
The Hartford’s credit insurance policy is designed for financial institutions engaged in trade and export finance, helping them manage their overall global exposure and obtain regulatory capital relief.
The firm’s political risk insurance policy is aimed at corporates and private equity firms with global operations, protecting their investments and assets against political risks such as expropriation, political violence, currency inconvertibility and breach of contract.
The Hartford already offers a range of auto, homeowners and business insurance products.
“Expanding our product capabilities to include credit and political risk insurance helps The Hartford better meet the holistic needs of its customers operating globally,” Kotler says. “These customised insurance solutions can help ensure that our clients have the appropriate insurance policies in place to adequately protect their business interests around the world.”