OPIC, Not OPEC

Insurance against revolution

The inviting ad shows coral reefs, blue water and the green-carpeted Caribbean island of St. Lucia. But the advertiser is not an airline seeking to entice vacation travelers. It is an obscure federal agency, the Overseas Private Investment Corp., drumming up business for the political-risk insurance it sells to U.S. firms that operate in the Third World. OPIC is a bright star in Washington at a time when many departments are in eclipse. Says OPIC President Craig Nalen: "We are a real Administration success story."

Nalen, 52, had never heard of the eleven-year-old agency before being asked to head it...

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