Political and commercial risks following the UK's decision to leave the European Union and Donald Trump's election as US president offer opportunities for Lloyd's of London, its chief executive said. “I wouldn’t be surprised if we start seeing much more political-risk insurance being bought all over the place,” said Inga Beale. The specialist market would be suited to meet the needs of businesses concerned about possible new trade barriers and other manmade risks, such as terrorism, Beale said. Lloyd’s is one of Britain’s biggest insurers with a £4.3bn business in Europe.
Political and commercial risks following the UK's decision to leave the European Union and Donald Trump's election as US president offer opportunities for Lloyd's of London, its chief executive said. “I wouldn’t be surprised if we start seeing much more political-risk insurance being bought all over the place,” said Inga Beale. The specialist market would be suited to meet the needs of businesses concerned about possible new trade barriers and other manmade risks, such as terrorism, Beale said. However, setting prices on such policies could be difficult because insurers don’t have the benefit of the decades of data that is available for threats from, for example, weather.