Losses Outside the Standard Insurance Policy A Political Risks Policy is a Contract to Pay/Indemnify Following a Loss Which is Excluded from Most All Risks Aviation, Marine Cargo and Property Policies. Two Types of Insured Loss 1. "Contract Frustration" = Contract Cancellation & Non-Payment for Goods/Services 2. "Confiscation Expropriation or Nationalisation" = Loss of Goods/Equipment/Equity Interests Loss Events Include :- Non-Delivery Non-Payment Contract