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FOR IMMEDIATE RELEASE
OLDWICK - FEBRUARY 20, 2015 02:42 PM (EST)
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:
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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