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Political-Risk Insurer Underused as Climate Talks Fail

A World Bank Group agency providing insurance, including political-risk coverage, in developing nations is being underutilized by 30 percent because of a lack of demand as the United Nations fights to protect the climate.

The Multilateral Investment Guarantee Agency in Washington provided a record $2.1 billion of guarantees in the year through June last year, which may jump another 14 percent this fiscal year, said Edith Quintrell, MIGA’s director of operations. A lack of global climate-protection laws after 2012 may be curbing demand, Quintrell said in a phone interview on May 7.