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2013 - 12 11

Export Credit Insurance

Date: 2013-12-11
Browse times: 23

Export credit insurance refers to the provision of security mechanism for the export of goods, services, technology and capital of the insurance companies. It China export buyer's credit risk insured, the insurer underwriting domestic exporters in the export business due to political risk aspects of business risk or importer in the importing country and suffered losses.

Export credit insurance (Export Credit Insurance), also called the export credit insurance is the governments to improve the international competitiveness of domestic products, promote export trade and to protect the safety of foreign exchange and the exporter's Bank credit security, promote economic development, the state financial backing, for a policy of enterprises to provide risk protection in export trade, foreign investment and foreign project contracting and other economic activities in support of measures, belonging to non-profit insurance business, is the government in market economy an indirect regulation means and supplement. Is the World Trade Organization (WTO) subsidy and countervailing agreement in principle allowed to support export policy means. The global trade volume of 12% ~ 15% is realized under the support of export credit insurance, to provide export credit insurance institutions in some countries, the variety of export credit insurance coverage even more than its total exports 1/3.

Export credit insurance institutions set up by the state (through the ECA, the official export credit insurance agency) underwriting business of foreign exchange risk compensation, enterprises in the loss, can guarantee the stability of the enterprise management, so that enterprises can use more flexible trade means to participate in international competition, and constantly develop new customers and occupy new markets.

Because of the particularity of export credit insurance, it is different from the traditional property insurance, when the commercial business of export credit insurance market, the government and the Chinese export credit insurance group companies still maintain a special relationship, in order to prevent the economic cyclical fluctuations, enterprises are difficult to obtain short-term export credit insurance from Business insurance company. When the Business insurance company is not willing to provide commercial export credit insurance under the normal rate, the state can provide commercial export credit insurance through theChinaexport credit insurance corporation.

Export credit insurance was born in Europe in the late nineteenth Century, the earliest in theUnited Kingdomandgermany. In 1919, theUnited Kingdomestablished an export credit system, the establishment of the first official export credit guarantee institutions - the United Kingdom Export Credit Guarantee Agency (ECGD). Followed by Belgium, founded in 1921, the export credit insurance bureau (ONDD), the Holland government in 1925 established the national export credit guarantee mechanism, the government of Norway in 1929 to establish export Credit Guarantee Corporation, Spain, Sweden, the United States, Canada and France respectively in 1929, 1933, 1934, 1944 and 1946 have been set up with the government as the background of the export credit the insurance and guarantee institutions, specializing in exports and overseas investment policy support.

In order to unify the rules and regulations of export credit insurance of various countries, exchange business experience, share risk information, study risk control technology, summarize and discuss the business development direction, and promote the healthy development of export credit insurance. The export credit insurance institutions established international named "international export credit insurance and overseas investment insurance alliance" of the organization in 1934, the first meeting held in Bern, the institutions referred to as the "Berne association". Berne association plays an important role in promoting and maintaining the development of World Trade and investment. China Export and Credit Insurance Corp is a member of the Berne association. After the Second World War, the governments all over the world to expand exports and capital output as the main strategy of national economic development, and to support exports and overseas investment as the export credit insurance has been holding official support, as a national policy financial support tools. In 1950, the Japanese government set up trade insurance courses in MITI, management of export credit insurance. Since 60s, many developing countries have established their own export credit insurance institutions.

The object of the export credit insurance is the account receivable of the export enterprise, and the risk is mainly caused by human factors. The commercial credit risk mainly includes: the buyer is unable to pay the debt because of bankruptcy, the buyer is in arrears with the payment, the buyer refuses to receive the goods and the payment because of own reason and so on.

Political risks include the risk for the buyer's country to prohibit or restrict the exchange, the implementation of import controls, revoke import licences, war, riot, seller and buyer are unable to control the situation, leading to the buyer can not pay for the goods. These risks, it is impossible to predict, it is difficult to calculate the probability of occurrence, and therefore can not afford the commercial insurance.

In international trade, the object of commercial insurance coverage is generally export goods, and the risk is mainly caused by the natural factors, such as the quantity and quality of the goods in the process of transportation and loading and unloading. Some commercial insurance also covers risks caused by human factors, but it is limited to the damage to the goods themselves. These risks can calculate the probability of occurrence, according to the probability of premium to ensure profitability.    

发布时间: 2013 - 12 - 11
发布时间: 2013 - 12 - 11
发布时间: 2013 - 12 - 11
发布时间: 2013 - 12 - 11
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