The Panama Canal Authority (ACP) has reportedly indicated that it expects its total insurance coverage needs for the expansion of the Panama Canal to exceed $100 million. The ACP has retained Willis Limited to broke the coverage and has already established that interested insurers must carry a minimum rating of A- (A.M. Best, S&P or Fitch) or A3 (Moody’s). Full coverage for the construction and civil responsibility risks of the project is expected to be bound by January 2010.