Montpelier Re and OPIC form new facility.Montpelier Re Holdings Ltd. said its wholly owned operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Montpelier Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Ltd. and Montpelier Agency Ltd., have entered into agreements with the Overseas Private Investment Corp. to form an insurance facility to underwrite stand-alone terrorism insurance Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities. It is considered to be a difficult product for insurance companies, as the odds of terrorist attacks are very products. OPIC OPIC Overseas Private Investment Corporation OPIC Office de la Propriété Intellectuelle du Canada (French: Canadian Intellectual Property Office) OPIC Organization of Professional Immigration Consultants OPIC Ohio Public Interest Campaign is a U.S. government agency that supports economic development by promoting U.S. private investment in developing countries and transition economies. One of OPIC's principal objectives is helping U.S. investors manage business risk by issuing political risk insurance. Montpelier Agency Ltd. will manage the facility on behalf of OPIC, providing underwriting and related services. |
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