The Panama Canal Authority (ACP) has reportedly indicated that it expects its total insurance coverage needs for the expansion of the Panama Canal to exceed $100 million. The ACP has retained Willis Limited to broke the coverage and has already established that interested insurers must carry a minimum rating of A- (A.M. Best, S&P or Fitch) or A3 (Moody’s). Full coverage for the construction and civil responsibility risks of the project is expected to be bound by January 2010.
If you would be interested in learning more about the Panamanian and/or other Latin American (re)insurance markets and/or regulatory environments, please click the “Email the Editor” button and provide your contact information for follow-up by an EAPD attorney.
