New Commitee Structure better aligns the Berne Union with market reality
Members of the Berne Union have voted to adjust the structure of its Committees to better facilitate the de facto engagement between members, reflective of underlying market structures
These changes result in the following new 4-part structure:
• ST Committee - a forum for public and private insurers of short term (<12 months credit term) export credit risk
• MLT Committee - a forum for public and private insurers of medium / long-term cross-border credit, political and investment risks
• ECA Committee - a forum for established ECAs to discuss all aspects of official export promotion, from traditional export credit to domestic products and SME support
• PC Committee - a forum for newly formed, locally / regionally focused or smaller scale members of the export credit and investment insurance community
These changes are largely a formalisation of of the de facto evolution of the erstwhile 'MLT' and 'INV' Committees, which have evolved over time, especially due to the considerable increase in private market participation in the medium / long-term credit and political risk insurance space.
The Berne Union's committees are the primary structures for engagement between members. These formal changes complete the realignment of Berne Union information exchange and data collection to reflect the natural structures of the underlying market for short and medium / long term export credit, political risk and investment insurance, as well as the dynamic between public and private sectors of the credit insurance community.