Political risk insurance market to exceed $10bn by 2018
Friday, 08 19 2016, Category: Insurance and Reinsurance, Country: World
The global political risk and crisis management insurance market looks set to top $10bn by 2018, an anticipated $2bn of growth, research by KPMG has found.
It said the challenging macroeconomic environment, recent terrorist attacks, growing cyber threats and global political uncertainties had led to a surge in demand for political risk and crisis management protection.
KPMG’s report Political risk and crisis management insurance: Opportunities for growth identified two significant gaps in the market. The first was the absence of new products that address emerging customer needs, such as business interruption costs without property damage.
The second case was the capability to evolve insurance towards prevention and response consulting services.
Source: The Actuary