OPIC charges a retainer fee after the submission of an application for insurance in order to proceed with review of the project. Insurance is issued directly to the applicant by OPIC, or through a broker if the investor so chooses. Registration must be made prior to making an irrevocable commitment. The registration remains active at OPIC for 2 years. OPIC insurance contracts can be offered at fixed rates for up to 20 years.
Investor has the opportunity to change insurance elections annually.
Policies are non-cancelable by OPIC, provided that investor is paying premiums and is not in material breach of the contract. In most cases, insured must retain at least 10 percent of the risk as self-insurance. Investments may be eligible for insurance if they contribute significant benefits to the social and economic development of the host country. OPIC will not support projects that could result in the loss of United State jobs, adversely affect the United State economy, have a negative impact on the host country's development or environment, or contribute to violations of internationally recognized worker rights. When claim for compensation is pending and after such payment is made, the investor has a duty to cooperate with OPIC in supplying all information requested pertaining to the claim.