COMMITTEE CHAIRS | October 2017 | The ICISA INSIDER
Committee of Underwriters – Nick Walklett
Despite a decline in election-related risks, policy uncertainty remains at a high level and could well rise further. The rather difficult-to-predict U.S. regulatory, fiscal and foreign policies are undoubtedly a cause
Nick Walklett
for concern. The negotiations of post-Brexit arrangements do not ap-
Chair Committee of Underwriters
pear to be progressing. There are a number of international on going
Company: Tokio Marine HCC international
geopolitical risks. These factors could harm confidence, deter private
Insurance Company Plc
investment, weaken growth and lead to problems for the Credit Insurance markets in a number of countries and sectors.
Technical Topics There does appear to be some growing concerns arising from weak
The following technical topics have been raised:
governance and corruption in a number of emerging markets and the
The monitoring of Buyer Risks to include a discussion on automatic
credit Insurance market needs to be on the look out for specific frauds
processes , information providers, variety of filing regulations, positive
relating to misappropriation of assets or more particularly falsification of
and negative monitoring , reliability of information sources.
financial statements The Standard documentation for the transfer of limits when changing The main topics for this autumn meeting can be analysed between
Insurers. The use of standard documentation and procedures could
the following categories: Countries; Trade Sectors; Technical topics;
help the market where there are queries concerning the cover that is
Specific Buyer Risks and a review of the markets.
given on particular buyers.
Main topics
Fraud: the increase in problems arising from environments where there
Countries
is weak governance and corruption can raise particular issues for the
Angola, Argentina, Brazil, Croatia, Dubai, Ecuador, Nigeria, Qatar,
credit insurance market. The particular areas to be considered are
South Africa, Turkey, China and Russia are all countries that have been
Africa and France.
raised and have interesting issues to discuss. The on-going problems in Turkey; the slowing of the economy in China and increase in ten-
Specific Buyer Risks
sions with the USA particularly with regard to the USA foreign policy
An opportunity to discuss specific buyer risks is available to delegates
towards North Korea effect economic confidence. This agenda item
and can be very useful where there are common goals and the infor-
is always open to allow the addition of any country where there are
mation is in the public domain.
contemporary matters to discuss.
European credit Market Brexit
The round table discussion of the markets represented by the attend-
Brexit has been on the Agenda since the vote to leave the EU was
ing delegates provides an ideal forum to discuss particular market
cast. It is an important issue that has significance to a number of
trends or developments. It is always useful to share knowledge and
European markets and will be discussed at these autumn meetings
experiences from colleagues facing similar pressures and objectives
and probably in the future.
and discuss the specific concerns and challenges that exist in individual markets.
Trade Sectors Construction, Food Retail, Oil and Gas and Steel are the sectors that have been chosen to review this autumn. All key sectors that have high exposures to credit Insurance.
3
