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Bangladesh: Garment makers accuse insurers of charging extra due to political unrest

December 13, 2013 - 6:00am

Bangladesh's garment makers are claiming that insurers are charging them extra on account of the

“prevailing political unrest” in the country, The Financial Express reported.

Anwarul Alam Chowdhury Parvez, former president of the Bangladesh Garment Manufacturers and Exporters Association, said that insurers previously offered more than 45% commission on export insurance premium, and now they are hesitant to provide such a commission. Sources said that insurers had underwritten around 5 billion Bangladeshi takas ($63 million) worth of business worth in the garment trade.

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