Stakeholders
Insurers and Underwriters
Trade credit, cargo and political risk insurers underwrite risk in commodity transactions. CRT's professional standards and verification framework are designed to give underwriters a clearer view of the professional quality of the traders whose risks they are asked to cover.
What CRT offers this group
Commodity fraud — advance payment fraud, false mandates, document fraud — frequently results in insured losses. Insurers who underwrite trade credit and cargo risk for commodity transactions are directly affected by the quality of counterparty verification and professional conduct in the market.
CRT's verified credential framework is designed to create a meaningful signal about professional quality. A trader who holds a CRT Trade Integrity Passport has been certified against a defined competence framework and has accepted a Code of Conduct — a baseline that currently does not exist across the profession. Over time, CRT proposes to work with interested insurers to develop a clearer understanding of the relationship between CRT membership and risk quality.
Programme model
Potential engagement routes for insurers include:
- Credential recognition: Recognising CRT credentials as a risk-quality factor in underwriting assessments. This is at the insurer's complete discretion and does not require any agreement with CRT.
- Intelligence collaboration: Contributing to or accessing CRT's fraud typologies and risk alert products, which are designed to be useful to risk practitioners in the insurance sector.
- Research partnership: Contributing to research on the relationship between professional standards and loss experience in commodity trade insurance.
CRT is not an insurance or regulatory approval
- CRT membership and certification do not constitute an insurance product or guarantee of performance.
- CRT credentials are voluntary professional standards and do not override insurers' own underwriting judgements.
- No credentials have been issued. CRT is a founding-stage initiative.
Engage with CRT as an insurer or underwriter
We welcome dialogue with insurers interested in commodity trade risk quality.