The “Cold War resurgence” across the geopolitical landscape has heightened both the exposure and the necessity of many insurance lines into 2025, law firm DAC Beachcroft has said in its insurance predictions for the year ahead.

Demand for insurance against cartels and other organised crime in Mexico is rising, with several industry sectors beginning to purchase the coverage as standard, according to Chaucer.

Tokio Marine Kiln (TMK) is leading a new $95mn trade disruption insurance facility, launched in collaboration with Convex and McGill and Partners.

Arch Insurance International has appointed Jelle Ouwehand as head of terrorism, political violence and war.

Conflict-affected areas now represent 4.6 percent of the entire global landmass – a 65 percent increase since 2021, according to Verisk Maplecroft.

The role of political risk and credit insurance in addressing climate change and nature loss is increasingly being demonstrated through sovereign debt conversions in developing nations, as seen in the most recent Nature Bonds project in The Bahamas, Axa XL’s Stuart Barrowcliff has argued.

Geopolitical tensions and uncertainty around future US trade and fiscal policies should be front of mind for P&C insurers, particularly in marine and credit lines, according to Swiss Re’s Jérôme Jean Haegeli.

Portfolio diversification into specialty lines has fuelled recent growth in the credit and political risk market, although challenges linger around the sector’s reputation in the wake of the 2008 financial crisis, according to Guy Carpenter’s David Edwards.

Credit, bond and political risk reinsurers are expected to build on the stabilisation of capacity seen throughout 2024 and hold their position at 1 January 2025 renewals,

Specialist credit and political risk insurance (CPRI) broker BPL has appointed Catherine Aubert as a director.

Greater understanding around the accumulation of exposures from strikes, riots and civil commotion (SRCC) is needed to ensure that the peril remains adequately priced, Swiss Re’s Nikhil da Victoria Lobo has warned.

Starwind Specialty Insurance Services has brought in political risk market veteran Chris Kirby to lead the launch of a new platform called Starwind PVT, aiming to enhance its ability to assist retail agency clients across the US.

Lloyd’s research suggests the global economy could be exposed to average losses of $14.5trn over a five-year period as a result of geopolitical conflict causing widespread disruption to global trade patterns and supply chains.

(Re)insurers have been sounding the alarm about escalating losses from strikes, riots and civil commotion (SRCC), and the US presidential election could provide another source of tension.

Next month’s US election is the most significant event on the horizon for the structured credit and political risk insurance (CPRI) market, with the outcome likely to have dramatic consequences for the global risk environment, according to Gallagher Specialty.