OPIC works with currently* and properly licensed brokers that exhibit to OPIC's satisfaction a level of knowledge and experience that is likely to add value to both the investor and OPIC.
OPIC pays broker fees and commissions according to the following terms:
- The broker is entitled to a commission equal to 15% of the gross premium paid by an insured for each executed contract where the broker has been designated broker-of-record by an insured prior to or concurrent with the payment of a retainer fee in connection with a completed application submitted by an insured to OPIC.
- The commission for each project insured, regardless of the number of contracts issued with respect to each project, will be capped at US $200,000 per annum.
- Brokerage firms not already approved by OPIC should submit a request for approval to the Vice President of Insurance along with information that demonstrates experience and competence with Political Risk Insurance. This may include a copy of their current Property & Casualty or Property license and a description of several examples of investments brokered for Political Risk Insurance including names, coverages, inception dates, and the insuring companies.
*Note: It is the responsibility of the broker or brokerage firm to maintain an active license for the entire period of the contract. Failure to do so will result in OPIC's denial of commissions for any period after the termination or expiration of a license.