OLDWICK, N.J.--(BUSINESS WIRE)--This A.M.BestTV episode examines how global turmoil is driving increased demand for increased political risk cove rage, spurring efforts to model the impact and forecast losses.
As political risks increase so does insurance capacity, with about 55 companies writing political trade risk insurance.
“The political risk market is a challenging one,” said Jill Beggs, head of specialty lines reinsurance underwriting at Munich Re America. “There is tremendous capacity there, with new players continuously coming into the market."
Arthur Gallagher & Co.’s Credit and Political Risk Insurance Report and Market Update states that total maximum per risks for Lloyd’s syndicates was $1.04 billion at January 2015, up 9% from July 2014, and total maximum per risks for company markets was $1.82 billion, up 7% in the same period.
“In recent years the market has seen an influx in new capacity from the Lloyd’s syndicates and from insurance companies, which continued throughout 2014 as insurers were attracted by the good results,” said Catherine Thomas, director analytics at A.M. Best’s London office.
Also appearing in this episode is:
- Paul Davidson, chief executive officer at Willis Financial Solutions.
Click here to view the entire video program: http://www.ambest.com/v.asp?v=political215.
Recent episodes of A.M.BestTV include:
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- Food Trucks Serve Up Unique and Varied Risks: A Best’s Underwriting Guide video examines the growing food truck industry and how insurers are addressing their risk needs: http://www.ambest.com/v.asp?v=foodtrucks215.
- Federal Advisory Committee Examines Cyber, Retirement and Terror Issues: The first meeting of the Federal Advisory Committee that took place in Washington, D.C. on February 10 outlined the issues confronting the insurance sector: http://www.ambest.com/v.asp?v=faci215.
- Energy Risks and Globalization Create New Directors & Officers Risk: The recent Professional Liability Underwriting Society (PLUS) Directors & Officers (D&O) Symposium in New York where insurance executives stated that the D&O market is in a period of uncertainty caused by oil price volatility and new international exposures for corporations: http://www.ambest.com/v.asp?v=plus215.
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