Political Risk Insurance
WFC is actively promoting OPIC PRI products to U.S. business or U.S. citizens within its target markets - Georgia and South Eastern Europe.
PRI insurance, backed by the full faith and credit of the United States Government, can cover:
Political Violence Risks
- Protection for assets and business income losses
- Revolution, civil strife, insurrection, terrorism...
- Can be written to cover “loss of use” or “forced abandonment”
Expropriation Risks
- Protection against acts of the host government (or any part thereof)
- Confiscation, expropriation, nationalization…
- Includes creeping expropriation, denial of justice, and other discriminatory, illegal actions
- Can be written to cover a host government’s breach of a contract with the insured and non-payment of an arbitral award
Currency Inconvertibility Risks
- Protection against a deterioration of the conversion and transfer system, including both onshore or offshore accounts
PRI Insurance is available for investments in new ventures, expansions of existing enterprises, privatizations and acquisitions with positive developmental benefits. OPIC Political Risk Insurance can cover up to $250 million per project for up to 20 years. For additional information about PRI products please click here.
The role of WFC involves initial project screening, coordination with OPIC, completion of the OPIC Insurance application and submission of application package developed in accordance with OPIC statutory or policy requirements.