Speaking at Trade & Forfaiting Review’s annual insurance round-table event, Charles Berry, Chairman, BPL Global, discussed a host of issues concerning the political risk insurance market with peers from Marsh, Coface, Aon, Dentons and Beazley.

Commenting on the PRI market’s risk appetite, Berry said: “The market is happy to write business in countries like Vietnam and Mongolia, where it makes sense. The market is open. Elsewhere, we cover a lot of risks in difficult markets. The insurance industry, of which credit and political risk insurance is a small part, can take these risks; it is in robust shape and has been functioning perfectly normally throughout the financial crisis. Furthermore, it has been dealing routinely with losses arising from natural catastrophes measured in billions.”

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