In an opinion article for Trade & Forfaiting Review, James Esdaile, BPL Global’s joint Managing Director, explains that heightened political instability and banking capital regulations have driven exponential growth in the specialist Credit and Political Risk Insurance (CPRI) over the past few decades.
However, to take the next step, Esdaile writes, the market needs to become better organised to promote both its own and its clients’ best interests. Through collective action, insurers can maintain the confidentiality of their policies and safeguard their franchise, yet still bring light to issues they all face such as regulation and other threats to the business. Other areas that could benefit from market cooperation are technological integration and product development.
By giving the CPRI market a coordinated voice, insurers can develop their own influence and help obligors become aware of the size and impact the market has.
The full article can be read here.
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