Original sentence: As with any insurance, the precise scope of coverage is governed by the terms of the insurance policy.Governmental expropriation or confiscation of assets;.Governmental frustration or repudiation of contracts;.Inconvertibility of foreign currency or the inability to repatriate funds.Political risk insurance can be taken out by businesses, of any size, having operations in countries in which there is a risk that revolution or other political conditions will result in a loss.Political risk insurance is available for several different types of political risk, including (among others):.Political violence, such as revolution, insurrection, civil unrest, terrorism or war;.While political risk insurance policies are sometimes manuscripted for specific situations, the major political risk insurers have standard forms for the coverages that they issue.Wrongful calling of letters of credit or similar on-demand guaranties; and
Edited sentence: In a cynical view, the insurance company and the insured are placing bets on whether the country in question will disolve into mayhem.Policies are for a limited duration.Policies, and companies that sell them, like Lloyd's of London and Swiss Re, are often in the business pages of major newspapers like the Wall Street Journal and the Financial Times.Political risk insurance is taken out by multinational companies, of any size, that have operations in countries that are teetering on the brink of revolution.The basic premise is similar to any other sort of risk that can be insured, i.There are probably no off-the-shelf policies, and the terms and premiums would have to be negotiated for each country and company.flood, earthquake, fire -- but still has a flair of the exotic, like insurance Ginger Rogers' legs