In TFR’s 60 second interview, Sian Aspinall, joint managing director of BPL Global, advocates the need for a coordinated voice to represent the Credit and Political Risk Insurance (CPRI) market.
Aspinall explains that the foundations of the private market has been built on the basis of policy confidentiality, so their presence has always been overshadowed by the likes of Export Credit Agencies (ECAs) – who have bodies such as the Berne Union to represent them. However, as their market exposure has grown, it’s time the market as a whole woke up and recognised there is collective need to form some sort of market body. Aspinall calls for a needs of a collation of statistics and cross market data to validate the purchase of a product, particularly in the eyes regulators in terms of its usage for capital relief by the banks. Now more than ever, that voice needs to be there.
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