Though there are many types of risks that can be managed, there are some that cannot. It is possible to buy insurance that will protect a project against such risks including force majeure47 and political risk. Though the terms of the insurance policy will be specific to the project and will be outlined in the contract, the proceeds from an insurance claim will enable the sponsors to use the funds to restore production to pre-event status or repay any outstanding loans.
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47 See Glossary