In this article, published in Trade Finance magazine, Charles Berry reiterates that the insurance market for large and complex risks, centred in London, Bermuda and other international centres, has functioned normally thoughout the international financial crisis, and that its fundamentals have never been stronger.
Many clients have recognised that conventional investment and terrorism insurances fail to provide adequate protection for investments and tangible assets in emerging markets.
War risk exclusions render occurrences such as rebellion, civil war, revolution, insurgency and asymmetrical warfare likely to be excluded causes of loss; conventional investment insurance also fails to protect against the consequences of loss of investor rights and breach of contract by a host government.
To help clients evaluate the adequacy of their insurance programs we have prepared our PRI Grid – a simple chart setting out the causes of loss relevant to interests in emerging markets and how our investment and political violence insurances provide the best protection.
In this article, published in the PRI newsletter of Robert Wray PLLC, Charles Berry argues that at a time of global economic crisis the fundamentals of the property/casualty insurance market – and in particular the PRI market – are sound, that the market is functioning properly, and that it is presented with great opportunity.
Charles Berry, chairman of BPL Global, explains the competitive dynamics of the subscription market and asks what is best practice when public sector insurers seek facultative reinsurance from the private market.
Following Charles Berry’s prediction a year ago that the sub-prime crisis was “the beginning of a long slow-motion train crash in the financial markets” this annual forum, comprising PRI experts from leading insurers, bankers, and brokers, debates the impact on the insurance industry – and comes to a surprising conclusion.
GTR Roundtable, November/December 2008.
“Insurers bask in sub-Saharan boom”, Trade Finance, July/August 2008, Dickon Harris.
BPL Global Chairman, Charles Berry, explains how general property insurers view political violence insurance: if the level of disturbance gets serious, the risk remains with the policyholder.
“Political risk surge sparks hiring frenzy”, Insurance Day, 12 February 2008, Oleg Vukmanovic.
“Let’s talk insurance”, GTR Roundtable Discussion, November/December 2007.