Parties to a dispute are usually not aware of insurance coverages that can support the early settlement of a dispute or facilitate the collection of arbitral awards arising from disputes against governmental entities. These types of insurance coverages include Arbitral Award Default Coverage and Denial of Justice Coverage.
Arbitral Award Default Coverage will compensate an investor if the host government and/or its entity breaches its contractual obligations, the parties go to arbitration, and the investor obtains an arbitral award that the government cannot or will not pay. Denial of Justice Coverage will compensate an investor if it cannot obtain an arbitral award because the host government has frustrated the arbitration process.
Wasel & Wasel has pioneered the development of Arbitral Award Default Coverage and Denial of Justice Coverage. We are a global leader in assisting insurers in providing these products to its clients. Wasel & Wasel works with insurers/reinsurers and underwriters to provide coverage of arbitral awards and court judgements arising from disputes between commercial entities.
These types of specialized coverages provide strong protection for investors, commercial entities and third-party funders pursuing court litigation or arbitration to obtain compensation from a host government or another commercial entity.