Political and credit risk insurance is gaining popularity
International insurance and reinsurance broker Howden has released a report on the political and credit risk insurance market.
The total premium income that this insurance segment is capable of generating is estimated at $49 billion annually. This figure exceeds most other specialized product lines.
According to the online resource UkrStrakhuvannya, citing the Howden report, in conditions of geopolitical uncertainty, the demand for political and credit risk insurance has increased by a third compared to the average indicators in previous years.
“With the growing demand for political and credit risk protection, it is time for the market to take an even bigger step. This will strengthen global economic growth by increasing commitments and innovations, and will also provide businesses, lenders and public sector entities around the world with the confidence they need to trade and invest,” the report says.
Recall that political risks are serious threats to the activities of 75% of global companies, another 11% consider political risks to be the main threat to their business activities.