What are some organizations or firms that provide political risk insurance?
What will be an ideal response?
There are three potential sources of political risk insurance: international organizations aimed at promoting foreign direct investment (FDI) in developing countries, government agencies, and the private market. Among international organizations providing insurance, the World Bank's Multilateral Investment Guarantee Agency (MIGA), the Inter-American Development Bank (IDB), and the Asian Development Bank (ADB) are the best known. Most OECD countries have national agencies that provide domestic companies with political risk insurance. Examples include the Overseas Private Investment Corporation (OPIC; United States), Nippon Export and Investment Insurance (formerly EID/MITI; Japan), the Export Development Corporation (EDC; Canada), the Export Credits Guarantee Program (ECGD; United Kingdom), and the Export Finance and Insurance Corporation (EFIC; Australia). The private market has grown significantly and now includes firms such as Lloyd's, American International Group (AIG), Sovereign Risk Insurance Ltd., and Zurich Emerging Markets Solutions.
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