May 2011

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.”

It is an unfortunate fact of life that bad news seems to get forgotten when other pieces of bad news happen a bit later. Reports of the earthquake and tsunami and the ensuing nuclear radiation in Japan are no longer front page items. But damage is still unfolding and it is very worrying: lost lives, displaced people, lost and damaged possessions, business disruption and so on. It is not usual for daily newspapers to provide a detailed overview of the events and their consequences from an insurance perspective. We recently read a very impressive report published by the leading international law firm Clyde & Co (www.clydeco.com) and we recommend our readers to take the time to read this. Just for starters, can anyone guess the area of the geological fault which was thrust upwards by the 9.0 magnitude earthquake off the coast of Japan? This and many other questions are answered in the article but should readers wish to learn more, they should approach Mr Garrett Moore of Clyde & Co in London at garrett.moore@clydeco.com    

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