US agency, Palestinian firm sign risk insurance deal for Palestinian exporters
By JERUSALEM POST STAFF
A US government agency and a Palestinian insurance company will offer risk insurance to Palestinian exporters.
The agreement between the OPIC agency and the National Insurance Co. was signed Thursday at a West Bank business conference meant to encourage investment in the Palestinian areas.
The Palestinian economy has been severely hampered by Israeli restrictions on Palestinian trade imposed after the outbreak of a Palestinian uprising in 2000. Delays at checkpoints often make it difficult for Palestinian exports to deliver their goods on time.
The new risk insurance program offers exporters up to $75,000 per claim. The Palestinian insurance company pays the first $10,000 of a claim, and OPIC and another partner cover the rest.
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