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AM BestTV at RIMS: Investors in Emerging Markets Are Embracing Political Risk Coverage, Say Panel

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OLDWICK, N.J.–(BUSINESS WIRE)–In this AM BestTV episode at the Risk and Insurance
Management Society, Inc.’s (RIMS) conference in Boston, MA, a panel of
political risk insurance experts said private equity firms and other
investors are increasing their use of political risk insurance to
protect their investments across a range of regions. Click on http://www.ambest.com/v.asp?v=politicalriskpanel419
to view the entire program.

Jared Kotler, head of credit & political risk insurance (CPRI) practice,
The Hartford, highlighted what type of political risk insurance
coverages typically are available.

“There are a number of insured perils that are covered under a political
risk insurance policy,” said Kotler. “These perils, such as
expropriation, currency convertibility and political violence are
typically not covered under a global property program for manufacturers
or various types of investors with assets overseas. … If you are a
company that has not invested in emerging markets in the past and are
thinking about it or are concerned about your assets that are in
emerging markets, this is the type of coverage for you.”

The panel also addressed the cyber and terrorist components to political
risk insurance.

“On the terrorism side, cyber is proving to be a very effective way to
impact, to get headlines and to disrupt,” said John Minor, director of
crisis management and political risk, Aon Risk Solutions. “The challenge
is how do you know if it is a terrorist or a government? Generally, if
it is an attack that requires more resources, it is probably government.
North Korea, Russia and China have been known to do cyber attacks. These
countries are clear examples of governments using cyber to attack and
create disruption. Unfortunately, our market does not yet have a good
solution to address these risks.”

Other people that appear in this episode:

  • Richard Abizaid, regional product leader and head of the Americas, Axa
    XL; and
  • Suzanne Garrod, senior vice president and head of the Americas, credit
    and political risk

Zurich North America.

For full video coverage of RIMS, including exclusive executive
interviews, visit http://www.ambest.tv/rims19.

Recent RIMS episodes include:

  • Experts See Insurtechs as Enablers and Amazon as Potential
    Disruptor, Says Panel
    : A panel of senior insurance leaders said
    the industry would be wise to think about where Amazon might enter the
    space, then figure out how to beat it there: http://www.ambest.com/v.asp?v=ceopanel419.
  • ‘You Cannot Underwrite Behind a Desk’, Says Risk Manager Panel’:
    A panel of risk managers discuss the evolving relationships between
    insurers, risk managers and brokers: http://www.ambest.com/v.asp?v=riskmanagerspanel419.
  • Quickly Evolving Cannabis Business Provides Moving Target, Says
    Panel
    : A panel of industry experts said insurers face many
    challenges in underwriting the changing cannabis industry: http://www.ambest.com/v.asp?v=rims3419.

AM BestTV covers exclusive AM Best and insurance
industry information and reports, targeted topics and key developments
in the insurance, reinsurance and related sectors daily
. Sign up
for alerts of episodes at
http://www.ambest.com/multimedia/ambtvsignup.html.
View
AM BestTV episodes at http://www.ambest.tv.

AM Best is a global rating agency and information provider with a
unique focus on the insurance industry
. Visit www.ambest.com
for more information
.

Copyright © 2019 by A.M. Best Company, Inc. and/or its
affiliates
. ALL RIGHTS RESERVED.

Contacts

Lee McDonald
Group Vice President, Publication and News
Services

+1 908 439 2200, ext. 5561
lee.mcdonald@ambest.com

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