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Legal & Regulatory

We have in-depth knowledge and expertise in the legal and regulatory environment of the credit and political risk insurance (CPRI) market.

Our singular focus on CPRI means that all internal functions– including Legal, Regulatory and Quality Assurance – are solely focused on this specialist area of insurance. Bringing decades worth of experience, these teams form a core part of our service offering.

In-house Legal expertise

Our in-house Legal team works closely with our broking and claims teams on legal issues and policy wordings across all product lines and client bases. We also have extensive experience engaging with our clients’ own external legal counsel on a wide range of matters – including changes in banking regulation and the impact on CPRI business, through to sanctions clauses and the Insurance Act 2015 implementation.

Bespoke Regulatory expertise

Our compliance team is solely focused on CPRI and provides clients with bespoke guidance on regulatory, licensing and tax issues that can arise from conducting cross-border business around the world. 
Our compliance team is on hand to support clients’ ad hoc requests – such as for KYC documentation from insurers – while also tracking the financial strength ratings and capabilities of the 60+ insurers in the CPRI market.

Market advocacy

For us, Legal and Regulatory does not only involve providing support to specific transactions. We strongly believe in advocating for the CPRI product by supporting our clients and industry bodies’ engagement with regulators – for example, to ensure appropriate recognition of non-payment insurance within the finalised Basel III regulatory framework.

We actively lead and participate in relevant working groups and committees including at the International Trade and Forfaiting Association (ITFA), International Association of Credit Portfolio Managers (IACPM) and Loan Market Association (LMA).

Dedicated in-house resources for clients

Our dedication to providing comprehensive, best in class guidance and support to clients extends beyond broking. Our Legal, Regulatory and Quality Assurance teams – all of whom are focused solely on CPRI business – remain a core part of our service offering, bringing decades worth of experience, including from the banking and underwriting industries.

Expert Quality Assurance

We strive to maintain operational excellence across our business, and have built extensive workflow controls and processes into our applications that are designed and tailored specifically for CPRI. This helps to manage our clients’ operational risk through timely and efficient processes, while providing a feedback loop to clients on issues that arise during the life of a policy.

We retain a full-time, dedicated Director of Quality Assurance who oversees these controls and processes, and who is supported by a wider team of independent experts undertaking internal peer reviews of policy files.

BPL is the world’s leading broker specialising exclusively in credit and political risk insurance (CPRI) for multinational corporations, financial institutions, global investors and public agencies.