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Political Risks, Credit & Financial Contingencies Business Panel – 14 January 2025

The panel confirmed the completion of prior action points. Updates covered the new credit risk return issued to the market, due by March, with risk codes to follow in 2026. Discussions highlighted member interest in updating model wordings for PRI coverage, aiming for simplified and clear client offerings. Claims group updates mentioned sanctions issues, delays in licence approvals and a focus on keeping clients informed. The panel acknowledged the impact of global events on PRI demand and considered hosting coaching events and training sessions.