Optio Group has today launched a political risk offering for foreign direct investors in high-risk markets. In addition to the standard political risk perils of expropriation, war and forced abandonment, the group, comprising MGAs Ascent Underwriting, Cove Programs and Bay Risk Services, offers crisis management support services with Hiscox and Control Risks. Capacity for the product is also led by Hiscox.
Group chief underwriting officer at Optio, Paul Western said the new product addresses a gap in the market. “The London Market is a leading and long-established political-risks player. However, with many policies designed for large corporations, and based heavily on the RJM (81) policy form from the 1980s, they are not appropriate for today’s FDIs. Optio’s proposition is tailored for businesses typically lacking the sophisticated crisis management capabilities of Fortune 500 corporations, combining traditional indemnity with practical crisis support to avoid or mitigate loss and safeguard the lives of our clients’ personnel.”
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