John Nash Willis - International Risks

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John Nash Willis - International Risks

  1. 1. INTERNATIONAL RISKS Overseas Projects and Trade 1 st November 2011
  2. 2. Project Risks <ul><ul><ul><li>General - insurable </li></ul></ul></ul><ul><ul><ul><li>Political - insurable </li></ul></ul></ul><ul><ul><ul><li>Financial - mitigation also via financial markets </li></ul></ul></ul><ul><ul><ul><li>Commercial </li></ul></ul></ul>
  3. 3. Typical insurances - projects <ul><li>Confiscation </li></ul><ul><li>- Confiscation / expropriation / nationalisation </li></ul><ul><li>- Deprivation </li></ul><ul><li>- Forced abandonment </li></ul><ul><li>- Currency inconvertibility / Exchange transfer </li></ul><ul><li>Physical damage </li></ul><ul><li>- War on land </li></ul><ul><li>- Strikes / riots / civil commotion </li></ul><ul><li>- Terrorism and malicious damage </li></ul>
  4. 4. In addition…… <ul><li>Insurance covers: </li></ul><ul><li>- assets </li></ul><ul><li>- revenues </li></ul><ul><li>- liabilities </li></ul><ul><li>Regarding projects: </li></ul><ul><li>- construction period issues </li></ul><ul><li>- post construction issues </li></ul>
  5. 5. Typical insurances - trade <ul><li>Trade credit insurance – covers not only non-performance of obligor but can also include import or export restrictions, war and transfer delays. </li></ul><ul><li>2. Contract frustration insurance – non-performance of a government obligor or of a private obligor where this is due to government action; also addresses import and export restrictions, dovetailing with trade credit insurance </li></ul>

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