Pandemic fuels heightened political risk in 2021, finds Marsh’s map

Pandemic fuels heightened political risk in 2021, finds Marsh’s map

Pandemic fuels heightened political risk in 2021, finds Marsh’s map

Pandemic-induced economic stress will continue to exacerbate political risk throughout this year, according to Marsh Specialty’s Political Risk Map 2021, which shows larger increases in in-country economic risk than ever before across all global regions. The map is based on data from Marsh Specialty’s World Risk Review platform, and rates 197 countries and territories across nine indicators relating to security,…

IGI launches contingency line to take advantage of ‘market dislocation’

IGI launches contingency line to take advantage of ‘market dislocation’

IGI launches contingency line to take advantage of ‘market dislocation’

Specialty (re)insurer International General Insurance Holdings (IGI) is launching into contingency business and has appointed Richard Foster to lead the new operation, as well naming him head of property and political violence. The contingency line will primarily cover event cancellation, interruption or curtailment of events, non-appearance, and/or other contractual obligations. IGI said it is entering the contingency market to “take…

Soaring civil unrest the top political risk facing companies, says AGCS

Soaring civil unrest the top political risk facing companies, says AGCS

Soaring civil unrest the top political risk facing companies, says AGCS

Companies must review their business continuity plans to cope with “soaring” civil unrest that is likely to be exacerbated by the Covid-19 pandemic, according to Allianz Global Corporate & Specialty (AGCS). In the latest issue of its Global Risk Dialogue publication, the insurer says a significant rise in riots, demonstrations and vandalism, as terrorism declines, mean civil unrest is now…

CPRI market rising to the challenge on claims says BPL

CPRI market rising to the challenge on claims says BPL

CPRI market rising to the challenge on claims says BPL

The specialty credit and political risk insurance market (CPRI) continues to pay claims in this increasingly complex and volatile global economic and political environment. But the full impact of Covid-19 on this specialty sector has yet to be fully felt, says London-based broker BPL Global. BPL publishes an annual report on the CPRI market that shows a positive picture in…

Global political risk outlook ‘bleak’ as pandemic fallout drives instability, finds Verisk index

Global political risk outlook ‘bleak’ as pandemic fallout drives instability, finds Verisk index

Global political risk outlook ‘bleak’ as pandemic fallout drives instability, finds Verisk index

Some 88 of 130 countries are likely to see a spike in political risk by 2023, with the global outlook “bleak” for the next two years, finds Verisk Maplecroft’s annual sector outlook. Driven by the economic fallout from Covid-19, Verisk says the pandemic’s impact on political instability will be “2020’s sting in the tail” and the crisis’s “final act”. Some…

Renewable energy drives demand for credit insurance: BPL

Renewable energy drives demand for credit insurance: BPL

Renewable energy drives demand for credit insurance: BPL

Renewable energy deals are driving fresh demand for credit insurance, says a new report on the credit and political risk insurance sector by specialist broker BPL Global, which adds that the pandemic is further increasing rates. BPL said a third of its project finance enquiries were from the power sector last year, with two thirds for renewable energy projects. The…

US-China tensions should top corporate risk radars in 2021, warns Verisk Maplecroft

US-China tensions should top corporate risk radars in 2021, warns Verisk Maplecroft

US-China tensions should top corporate risk radars in 2021, warns Verisk Maplecroft

High geopolitical tensions are at risk of using corporates as collateral, warns a new report from intelligence firm Verisk Maplecroft, which says rising troubles between the US and China should be at the top of corporate risk radars. The  Political Risk Outlook 2021 report says political rivals could use sanctions and export controls that will impact business because the corporate…

AXA XL creates political risk leader role for Europe

AXA XL creates political risk leader role for Europe

AXA XL creates political risk leader role for Europe

AXA XL has named Caroline Tran as its first product leader for political risk, credit and bond in Europe. In the new role, Ms Tran will develop underwriting strategy in Europe and will be responsible for AXA XL’s political risk, credit and bond portfolio in France. Ms Tran joins AXA XL from Atradius, where she was deputy head of special…

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Business interruption (BI) has reclaimed its position as the top risk facing global firms, followed by a pandemic outbreak in second place and cyber incidents a close third, after taking the number one spot last year, according to Allianz Global Corporate & Specialty’s (AGCS) Risk Barometer 2021. BI held the top spot for four consecutive years in the Allianz Risk…

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

Cyber incidents have retained their position as the number one risk facing businesses in Europe during 2021, with business interruption (BI) in second place and pandemic outbreak third, finds a poll of risk experts and business leaders by Allianz Global Corporate & Specialty (AGCS). BI’s position is unchanged from last year, while pandemics are a new entry in the top…

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