July 2014

Spotlight – In international business, almost every market around the world does things in a different way. This often leads to misunderstandings and unfulfilled expectations. However, different does not need to mean difficult and knowledge of the needs and characteristics of specific geographic markets is an advantage to those who are active in the global economy. These articles help you understand different aspects of the insurance industry around the world, enabling those who do business there to feel more “at home, abroad.”

Recently, Commercial Risk Europe (http://www.commercialriskeurope.com/) hosted a seminar in London under the heading “Latin America: The Evolving Risk Landscape and Cost Effective Transfer of Cross-Border Risks.” Speakers from all over the Spanish and Portuguese speaking world stressed the need for companies to develop local teams in order to navigate the peculiarities of the region. Like most other continents, the cultural-, regulatory-, political environment and levels of infrastructure are vastly different and the temptation to insure risks and exposures in a variety of Latin American countries under one programme is difficult and fraught with potholes.

It was, therefore, refreshing to get a butterfly journey over the continent, flitting from one country to the other, just touching on the key aspects of the attractions, differences and developments in most of the countries in the region. The presentation by an ex-colleague I have known for years but only just met, Paul Bitner, Managing Director and Americas Regional Director at the fast growing network of BrokersLink (http://www.brokerslink.com/) is attached (WoRds – Newsletter – 97 London Latin America Presentation).

Whereas many presentations miss a lot because of the lack of verbal commentary, the facts and figures here need little explanation but for anyone who has a question or comment, Paul can be reached at paul.bitner@brokerslink.com We are grateful to Commercial Risk Europe for the invitation to this seminar and any further questions can be addressed to Annabel White at awhite@commercialriskeurope.com