Regulations challenge Brazil’s risk managers

Latin America

Just over half of the risk managers from the US oil and gas industry surveyed at a recent seminar in Houston, Texas, hosted by Willis Global Energy, prioritized the regulatory burden stemming from the requirement to insure Brazilian assets locally as their biggest challenge in terms of managing risks in the country. As well as having to insure Brazilian assets locally, other challenges for risk managers in the oil and gas sectors included the potential gaps in cover due to difference in conditions between Brazilian and international insurance policies as well as the challenge of making effective use of captive insurance companies in Brazilian insurance programs.