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ExpectMore.govExpectMore.gov home pageEXPECT FEDERAL PROGRAMS TO PERFORM WELL, AND BETTER EVERY YEAR.
 
Program Assessment

Program

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Overseas Private Investment Corporation - Insurance

The Overseas Private Investment Corporation (OPIC) Insurance program fosters economic development in new and emerging markets overseas by providing political risk insurance against expropriation, currency inconvertability, and political violence to eligible US companies investing in these markets.

Rating

What This Rating Means

PERFORMING
Moderately Effective

In general, a program rated Moderately Effective has set ambitious goals and is well-managed. Moderately Effective programs likely need to improve their efficiency or address other problems in the programs' design or management in order to achieve better results.
  • The program is well-managed and has significantly improved its strategic planning by developing strong goals, such as increasing the number of jobs created per $1 million invested. In FY 2005, OPIC's actual of 28.7 jobs created exceed their target of 20. It has taken constructive steps to integrate development impact in its planning at the corporate, department, and individual levels.
  • The program has instituted a requirement that project sponsors seek insurance from at least two private insurance companies before they can apply for OPIC coverage. This policy ensures OPIC does not compete with private insurance companies (called additionality policy). The program also subjects all insurance applications to a separate set of objective criteria for assessing additionality.
  • The program has improved interagency coordination, cooperation, and transparency. OPIC works very closely with other US government programs that seek to expand economic development opportunities, like the Department of State and the US Agency for International Development, in priority countries.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Improving coordination and cooperation between the program and other government agencies.
  • Monitoring the program's implemenation of its additionality policy (see bullet two above) to ensure the policy's effectiveness is not being undermined by the discretion given to clients.
  • Tying resource allocation to expected performance.

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