IX Political Risk Insurance
Rudolf Dolzer, Christoph Schreuer
- Settlement of disputes — International organizations — Law of treaties — BITs (Bilateral Investment Treaties) — International economic law — Inconvertibility of payments
The risk for the investor inherent in major investment projects has led to the evolution of a market for investment insurance schemes.1 The first phase of insurance programmes commenced in the 1950s and was entirely dominated by insurers run by national governments, which sought to promote the outgoing investments of their nationals. In the United States, the Agency for International Development carried out the task until the Overseas Private Investment Corporation (OPIC) took over in 1971. In the early 1970s, private insurers entered the market, beginning with...