Canadian companies waking up to political risk – but still behind the curve

Demand for political risk insurance is climbing as global instability deepens, but Canadian businesses are still slower than their international peers to integrate it into their broader risk-management strategies. That’s the view of Patrick Rengger (pictured), commercial account executive and senior advisor at HUB International ’s Complex Risk Division, who says the shift in awareness has begun – though not fast enough to match the pace of change in global risk.

“People are more concerned than they have been,” Rengger told Insurance Business . “Perhaps not as concerned as they should be.”

A widening awareness gap

Rengger said Canadian companies have traditionally lagged behind their European counterparts in recognizing political risk as a standard element of international operat