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Risk in Context Podcast: Understanding and mitigating political risks in a shifting global environment

In today's rapidly changing global landscape, businesses are increasingly exposed to political risks that can impact their existing or planned investments.

04/16/2024 · 4 minute read

In today's rapidly changing global landscape, businesses are increasingly exposed to political risks that can impact their existing or planned investments. These risks are further amplified by state-led economic policies, unpredictable conflicts, and the 2024 election year, which will see over 60 countries going to the polls.

To successfully navigate these challenges, it is crucial for business leaders to have a robust strategy in place. And as outlined in the recently released Political Risk Report 2024, it is critical for senior leaders to understand the importance of identifying, preparing for, and mitigating political risks.

In this episode of Risk in Context, Robert Perry, Marsh’s Global Head of Political Risk and Structured Credit, speaks with Chris Coppock, who leads the Political Risk analytics team, and James Lloyd, a Senior Vice President specializing in political violence and terrorism within Bowring Marsh, about the main political risks faced by businesses worldwide. They also discuss how businesses can effectively navigate this adverse environment, mitigate risk, and make the most of opportunities by leveraging a robust political risk and trade insurance program.

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Key takeaways

Businesses face a multitude of interlinked risks

Interconnected political, trade, macroeconomic, climate, and other risks can have a cascading effect on businesses, requiring business leaders to strengthen their ability to identify, prepare for, and mitigate time-sensitive challenges through a robust risk management strategy.

Significant focus on political violence during a major election year

More than 60 elections will take place in 2024, raising significant concerns for businesses, especially considering the risk of AI-fueled misinformation and disinformation, requiring organizations to closely monitor developments and manage potential repercussions.

Political risk and trade credit insurance can provide critical protection

The commercial insurance market remains strong, providing ample coverage and critical protection to businesses, helping them safeguard their investments and operations against uncertainties and potential disruptions, and allowing them to continue investing in opportunities.

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