What are the three main types of political risk covered by political risk insurance?
What will be an ideal response?
Insurance is typically available for currency inconvertibility (when a company is unable to convert its foreign earnings to its home currency or otherwise transfer the earnings out of the host country), expropriation (protects MNCs and lenders against confiscation, expropriation, nationalization, and other acts by the host government that adversely affect the MNC's cash flows, including "creeping expropriation" – a series of acts that cumulatively result in some expropriation of value – discriminatory legislation, the deprivation of assets or collateral, the repudiation of a concession, and the failure of a sovereign entity to honor an arbitration award issued against it), and war and political violence (compensates a company when war or civil disturbances cause damage to the MNC's assets or cash flows).
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