July 26, 2024
Report

Trade Compliance Insurance Product: Revisiting the feasibility of an insurance product to strengthen trade compliance and reduce proliferation risks

Abstract

In October 2018, Pacific Northwest National Laboratory (PNNL) published a report (PNNL-28094) in collaboration with the Stimson Center on the feasibility of an insurance product that would reduce proliferation risks associated with small and medium-sized enterprises by encouraging stronger trade control compliance. This preliminary report concluded that a Trade Compliance Insurance Product (TCIP) is feasible and identified existing insurance analogs, challenges, and outstanding questions for further industry outreach. From October 2018 to September 2019, PNNL attempted to validate this preliminary report through a series interviews with representatives from the manufacturing, finance, insurance and shipping industries. This report follows up on the initial 2018 Report and summarizes the findings of the industry interviews related to the TCIP and makes recommendations for the next steps and insurance incentives more broadly.

Published: July 26, 2024

Citation

Gray T.T., G.A. Adams, and R.A. Weise. 2019. Trade Compliance Insurance Product: Revisiting the feasibility of an insurance product to strengthen trade compliance and reduce proliferation risks Richland, WA: Pacific Northwest National Laboratory.