Miles commented: "The level of risk in these countries just continued to get worse. It has reached the point where although we have been able to secure insurance cover for some clients in some of these territories, it is not always available."

The Commodity Crunch

This year's map includes a Commodity Crunch Exposure Matrix, which identifies the countries most vulnerable to political instability in 2009 if commodity prices continue to fall, as has been suggested by some forecasters.

"Volatility in global commodity prices in the 1970s and early 1980s contributed to political and economic instability in a number of countries," according to Roger Schwartz, senior vice president of Aon Trade Credit. "Countries that recently benefited from very high commodity prices may suffer as they fall. The types of commodities we are talking about include oils, metals and minerals. PR Newswire