Egyptian unrest causing insurance focus, says Marsh

Egyptian political unrest has caused many firms to focus on their risk management arrangments, according to Marsh.

Companies with operations in countries hit by political unrest face losses from risks such as business interruption, theft, damage to property, threats to contract for both purchase and supply, late payments and the need to evacuate employees.

Marsh global head of political risk and trade credit practice Evan Freely said: “We have already seen companies across industries affected by acts of political violence in Egypt, including those in the oil and gas, hospitality and real estate sectors as well as professional services firms and financial institutions. Affected companies should already be gathering as much information as possible to prepare for the claims process.

“These incidents in Egypt should cause every company with operations in emerging markets to re-evaluate the adequacy of their risk management strategies. Companies need to have plans in place that can protect both colleagues and strategic assets," Freely said.