Introduction

One of the constants in Prof. Don Wallace's professional life has been the intertwining of political risk and arbitration. In honor of Prof. Wallace, this Essay addresses a question that arises in the public policy debate about investment treaty arbitration-does the availability of political risk insurance ("PRI") make investment treaty arbitration unnecessary? The answer is: No. We will be able to draw a few significant conclusions from the following comparison between PRI products and investment treaty arbitration: Investment treaty arbitration is a forum, ...