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FERMA - A more volatile world

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The political risk climate has probably changed more this year than at any time since the fall of Communism and two Forum workshops will provide timely guidance for risk managers on political risks.

The political risk climate has probably changed more this year than at any time since the fall of Communism and two Forum workshops will provide timely guidance for risk managers on political risks.

Published in: Business, Economy & Finance

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  • 1. FERMA:“A more volatileworld”
  • 2. The political risk climate• The political risk climate has probably changed more this year than at any time since the fall of Communism in the late 1980s TWO FORUM WORKSHOPS Providing timely guidance for risk managers Looking after staff who may get caught up in Political risks political unrest or other upheavals
  • 3. Our members’ views• So, how do our members see the current situation? “There is still a great deal of uncertainty over the governments that will eventually replace the old regimes, and companies have to strike a balance between the dangers and the opportunities for development” “Country risk has changed completely, and there is material Michel Dennery increase in counter Deputy Chief party risk” Risk Officer, GDF Suez
  • 4. Who will be speaking at the Forum?• Respected industry voices: Stephen Capon Head of Country Wolfgango & Credit Risk Piccoli, Management, Director Europe Political Risks & / Eurasia, Eurasia Credit, ACE Group Global Markets Jeff Dowling Mette Bonde ACE Product FLSmidth Travel Head Accident Security and Corporate & Manager Major Risks
  • 5. What will be discussed at the Forum?• A number of topical questions will be addressed, for instance: How the insurance market assesses political and economic risks for international business To what extent does China remain a reliable source of growth for global business Will the Eurozone remain intact?
  • 6. Changing political environment• Stephen Capon, Head of Country & Credit Risk Management, Political Risks & Credit, ACE Global Markets view: Increased discussion of What is credit risks the main Need to effect? distinguish between SHORT-TERM LONG-TERM RISKS TACTICAL CONSIDERATIONS
  • 7. Impact of a changing political environment Generational change has yet to take place in some major Middle Eastern countries Stephen Capon “When it does, there are likely to be knock-on effects Head of Country & Credit Risk Management, Political Risks & in the whole region” Credit, ACE Global Markets “Picking the way through that is one of the biggest long term challenges”
  • 8. Assessing the risk of business travellers andforeign based staff• Jeff Dowling, ACE Product Head Accident and Health Corporate & Major’s view: REQUIRES DELICATE ASSESSMENT CONSIDER THE SITUATION SIT TIGHT AND BETTER TO MOVE KEEP THEIR PEOPLE HEADS DOWN
  • 9. Case study: evacuation• Mette Bond, FLSmidth’s Travel Security Manager will discuss the decision to evacuate the company’s employees from Egypt because of political turmoil: THE BENEFITS OF WHY THE DECISION WAS HAVING A TRAVEL MADE SECURITY SYSTEM IN PLACE CHALLENGES FACED LESSONS FROM THE EVENT
  • 10. Business travel risk “Business people are travelling to a much wider range of territories than ever before so they are more exposed to flash points. It has been a very active year” JEFF DOWLING ACE Product Head Accident and Corporate & Major Risks
  • 11. The cost of adequate protection• There are often opportunities for business in less settled environments, so accident and health insurance policies for multinational businesses have to cover the exposure that company travellers face in these places, such as civil unrest HIGHER ACCIDENT INCREASED EXPOSURE AND HEALTH INSURANCE POLICIES• Political violence can occur in developed as well as emerging markets, considering the Madrid train bomb in 2004 and attacks in London the following year.
  • 12. FERMA Risk Management Forum 2011 Stockholm Waterfront Congress Center 2-5 October 2011 www.ferma-forum.eu For more details of these @FERMAFORUM2011and other workshops at the Forum, see “FERMA Risk Talk” http://www.ferma- forum.eu/site/- Programme- Committee,1978