Trend | Range | |
---|---|---|
Political risk | +10 to +45% depending on country mix within portfolio |
The Ukraine/Russia conflict brought political risk insurance into sharp focus, particularly its non-cancellable, multi-year terms.
China capacity is in demand, but supply has narrowed considerably.
Recent election outcomes showcase shift left
In our recent Political Risk Index, we examine the question of whether country alliances are changing, noting that, per our matrix and methodology, of the 61 countries mostly in the developing world, half had changed alliances over the past five years.
We encourage clients with exposures abroad to proactively consider political risk-transfer options for their country(ies) of interest before it becomes front page news to guarantee non-cancellable, multi-year cover.
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Each applicable policy of insurance must be reviewed to determine the extent, if any, of coverage for losses relating to the Ukraine crisis. Coverage may vary depending on the jurisdiction and circumstances. For global client programs it is critical to consider all local operations and how policies may or may not include coverage relating to the Ukraine crisis. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal and/or other professional advisors. Some of the information in this publication may be compiled by third-party sources we consider reliable; however, we do not guarantee and are not responsible for the accuracy of such information. We assume no duty in contract, tort or otherwise in connection with this publication and expressly disclaim, to the fullest extent permitted by law, any liability in connection with this publication. Willis Towers Watson offers insurance-related services through its appropriately licensed entities in each jurisdiction in which it operates. The Ukraine crisis is a rapidly evolving situation and changes are occurring frequently. Willis Towers Watson does not undertake to update the information included herein after the date of publication. Accordingly, readers should be aware that certain content may have changed since the date of this publication. Please reach out to the author or your Willis Towers Watson contact for more information.