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1. What is political risk and what are the most significant elements to be considered? Political risk is any governmental actions that diminish value of the firm operating with the boundary or influence of that government Most significant elements: Nationalization: Confiscation: Expropriation: Contract repudiation Currency inconvertibility: 2. Describe in details of your study into one of your countries from your selected website addressing political risk Libya Political instability: Since January 2010, there have been varying degrees of political instability and public protests, including demonstrations which have been marked by violence, in Libya. Some political regimes in Libya are threatened or have changed as a result of…show more content…
5) Excess and surplus insurance: a hybrid form of cross-border insurance trade, found in U.S. It exists when insured, denied the desired coverage of a licensed insurer, places risk with a nonadmitted insurer. 9. Property rights are the foundation of our economic growth. What are these property rights and how do they contribute to this growth Property rights include: (1) the right to own and alienate real and personal property, (2) the right to contract and (3) the right to be compensated for damage resulting from the tortuous conduct of others. Contribute: Without a well-defined system of private property rights and a mean to enforce these rights, markets do not function well. Moreover, private financial services will not flourish unless individuals’ ownership interests in property are well defined and protected. 10. Describe the U.S. market for non-life insurance. Include the type of market and products and methods of distribution. U.S is the world’s largest nonlife market for decades. The market is highly competitive. Virtually any type of nonlife insurance is available. Some nonlife insurance policies are property insurance policies, liability insurances policies, and package insurance policies. Insurers use multiple distribution channels to reach their customers. Brokers also figure prominently in the market. 11. What are the 4 market issues in the US? 1) State regulation: U.S insurance
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