COVERED RISKSNon-Honoring of Sovereign Financial Obligations
- Non-Honoring of Financial Obligations by the sovereign / sub-sovereign.
- Currency inconvertibility and transfer restrictions.
- War or civil disturban
- Protects balance sheet against losses due to non-commercial risks.
- Attracts additional project capital.
- Enables to penetrate high-risk markets.
- New investments or expansion of existing investments/projects.
- Investment not prohibited by Shariah.
- Investments being undertaken in a Member Country.
TENOR OF COVERUp to 20 years
INVESTMENT INSURANCE PRODUCTS
- Non-Honoring of Sovereign Financial Obligations
- Foreign Investment Insurance Policy (FIIP) for Financing Facility
HOW IT WORKS
- Investor submits a preliminary application to ICIEC, ICIEC gives its initial 'in-principle' approval and requests a full detailed application.
- On the basis of the detailed application, ICIEC will assess the project/country risks.
- Should ICIEC management approve the insurance, ICIEC will then make an offer of insurance to the investor
- ICIEC will obtain the non-objection of the government of the host country.
- In the case of risk occurrence, the investor submits a claim to ICIEC and ICIEC pays a compensation.