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

07-10 Dec 2020

Capacity Sharing Marketplace: How is the Marketplace Adjusting Amid the Crisis?

Online Webinar
Practical workshop exploring how COVID, Climate and Globalisation are disrupting traditional fi...
09 Dec 2020

BU-ICISA Regulatory Webinar

Online Webinar
2020 BU-ICISA Regulatory Meeting will be held as a series of three online webinars - 25 Novembe...
2021

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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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...