Robust response to the COVID-19 pandemic from the export credit insurance industry

21/04/2020
Publications

All sides of the market have acted swiftly in response to the crisis, introducing measures to combat the negative economic impact of the pandemic by supporting exporters and facilitating their access to finance

A preliminary report released today outlines a significant cumulative response from insurers of export credit, resulting in four broad categories of support, based on:

Supporting exporters – through increased flexibility and relaxation of terms for policyholders (exporters) or their clients; expedited processes (approvals / claims processing); some concessions, waivers or flexibility on fees and premium payments

Maintaining industry capacity to support trade – through increasing capacity, easing restrictions and augmenting private market capacity through new direct cover, reinsurance or top-up by public insurers (ECAs)

Reducing pressure on cashflow and supporting the supply chain – through increased support for finance indirectly related to exports: e.g. cover for working capital; pre-shipment finance; bonds; domestic suppliers to exporters; import guarantees

Minimising defaults on existing loans – through directly, or in conjunction with the banking system, facilitating favourable restructuring: deferred payment schedules; extended repayment period; waivers of some interest and fees

Read the full report via the Berne Union website at:Export Credit Insurance Industry Response to COVID-19

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Upcoming meetings

30-31 Jun 2020

Claims & Recoveries Webinar Series - 2020

A series of Webinar's are being held from 30th June. Here you can find the schedule for up comi...
16-17 Sep 2020

IfTI Global Symposium 2020

Offenburg / Gengenbach, Germany
The 2020 Symposium will discuss prospects and practical issues how public and private actors ca...
Dates Changed! 16-17 Sept
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12-16 Oct 2020

CANCELLED Annual General Meeting 2020

Nur-Sultan, Kazakhstan
The AGM 2020 will be a virtual event. Further details available soon.
CANCELLED
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Oct 2020

POSTPONED: 2020 Digitalisation Specialists Meeting, Como, Italy

Como, Italy
Specialist meeting to discuss developments in the field of digitalisation and customer experien...
POSTPONED
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23 Nov 2020

BU-ICISA Regulatory Seminar

London, United Kingdom
The 2020 Regulatory Seminar will take place on 23 November, in London, UK
25-26 Mar 2021

Project Finance Specialist Meeting

Zurich, Switzerland
The 2021 Project Finance Specialist Meeting will take place on 25-26 March, in Zurich, Switzerl...