For instance, there are 4.9 billion euros worth of derivatives known as credit default swaps, which insure against a (default) of government debt and will most likely pay out if the nation does not make its bond payments. That is 1 billion euros higher than in May, according to the Markit Group, a (financial) data firm based in London. As the summer has (progressed), the cost of buying that sort of insurance, which is essentially a bet that the United States government will default on its debt, has (risen) to 84,000 euros $121,450 a year  to insure Treasuries valued at 10 million euros, up from 35,000 euros $50,600 in June.

Along with credit-default (swaps), big investors and corporations are also eyeing so-called political risk insurance, which pays out in a government (default).

In the past, customers largely inquired about (coverage) for developing countries, like Nigeria or Kazakhstan. Two years ago, they called about Greece, Portugal, and Spain.