Political Risk Insurance: Contingency Insurance


Definition of "Political risk insurance: contingency insurance"

Beau Ferguson real estate agent
Beau Ferguson, Real Estate Agent JPAR Properties Group

Insurance coverage that protects a contractor or other type of business providing a service for expenses incurred in the event a contract is not ratified by a foreign government. For example, if a contractor decides to start building a structure prior to the foreign government ratifying the agreement and the ratification fails, the contractor would be indemnified for expenses incurred.

 

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