Political Risks & Contingency
Political risks and contingency risks were
pioneered in the Lloyd’s market and are today among the most
important lines of business underwritten at Beazley. Our
underwriting team is one of the largest and most experienced in the
market.
The risks confronting businesses investing or
doing business abroad continue to evolve and, in many cases, to
grow. In addition to traditional lines such as contract
frustration, expropriation and credit, we insure a growing number
of businesses against terrorism and political
violence.
Our contingency business is similarly
diverse. Clients, large and small, look to us for event
cancellation coverage in five continents. Weather-related
disruptions are a frequent cause of loss, but more unusual loss
triggers such as terrorism or even national days of mourning can
also be covered. Additionally, we insure event organizers for
non appearance of performers and for the costs incurred when large
prizes are paid out.
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Adrian
Lewers on the growth of political risks
The head of Beazley's political risk and contingency team
identifies the rapid growth of the BRIC economies (Brazil, Russia,
India and China) as fuelling political risk.
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Tina
Kirby on political violence
Political violence is a hydra-headed threat to cross-border
investors. Beazley's terrorism underwriter explains.
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Chris
Rackcliffe on event cancellation
Beazley's contingency underwriter describes how Britain's wettest
summer on record changed attitudes to event cancellation
insurance.
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