The political perils U.S. companies face internationally have increased by 5 percent, an insurance brokerage that rates such risk announced.

But despite rising concerns, the cost of insurance coverage for such exposure continues to decline, according to an executive of Alliant, which released its latest Political Risk Index.

"What is most surprising is that while there is an increase in risk, the consensus view is that the market has not turned hard but continues to remain soft," said John Minor, head of emerging markets for Newport Beach, Calif.-based Alliant.

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