GCube gets political
Underwriter GCube is providing political risk insurance for renewable energy projects in response to a rising number of client enquiries.
The company is seeking, in particular, to target developing markets in Latin America, Africa, Asia Pacific and Central Asia.
“In these markets, companies and lenders are widely recognised to be at heightened risk of losses arising from actions taken by host governments, including confiscation, expropriation, nationalisation and deprivation,” GCube said.
Coverage is provided against a combination of risks including political violence, forced abandonment, currency inconvertibility, forced divestiture, selective discrimination and license or contract repudiation.