trade credit insurance News

Rep. Hensarling Blasts Export-Import Bank As ‘Special Privilege’

A Republican House committee chairman scolded Boeing Co. and a large U.S. trade group on Monday for lobbying to keep the Export-Import Bank alive, saying their efforts amounted to petitioning for “special privilege.” Rep. Jeb Hensarling wrote a scathing letter …

Markel Now Underwriting Trade Credit Insurance in U.S.

Markel Corp. is now underwriting trade credit insurance in its New York office. Policies will be underwritten on an admitted basis, utilizing two Markel insurance companies, Markel American Insurance Co. and Markel Insurance Co. Products may not be available in …

Cotter to Head New Allied World Office in Sydney, Australia

Allied World Assurance Company Holdings, AG announced the opening of a new branch office of Allied World Assurance Company, Ltd in Sydney, Australia “to further expand distribution networks in the Asia Pacific region.”   Allied World appointed William Cotter, Executive …

Insurers Pull Back on Trade Credit Coverage for Sears Suppliers

Insurance companies that provide protection to Sears Holdings Corp. suppliers have scaled back policies in recent months, people with knowledge of the matter said, following seven years of declining sales at the department-store chain. Insurers such as Coface SA and …

Brokers Missing Out on Big Opportunities in Trade Credit Insurance Market

Agents and brokers who are not selling trade credit insurance – also known as receivables insurance – are missing huge opportunities but also opening themselves up to errors and omission (E&O) exposures, according to trade credit insurance experts. Worldwide capacity …

Coface Introduces New Trade Credit Top-Up Cover

Coface, a global trade credit insurer, has introduced TopLiner, a new supplemental, non-cancelable top-up cover for existing customers. The product was designed for businesses taking a more active role in managing their credit risks. With TopLiner, Coface policyholders can view …

XL Political Risk, Trade Credit Unit Gets Approval for Lloyd’s Expansion

XL Group announced that its Political Risk and Trade Credit (PRTC) business has received approval from Lloyd’s to write Political Risk and Trade Credit risks using the Lloyd’s platform via XL Group’s Lloyd’s Syndicate #1209.  XL also announced the expansion …

Top Trade Credit Insurer Pulls Cover for Exports to Greece

The world’s biggest trade credit insurer, Euler Hermes, has suspended cover for exporters shipping to Greece because of the mounting risk of them not being paid in the event the debt-laden nation is forced out of the euro. “Euler Hermes …

EU Trade Credit Insurers Considering Restrictions on Greek Coverage

Euler Hermes, the world’s No. 1 trade credit insurer, said it might restrict the cover it provides to exporters doing business with Greece, citing fears the debt-laden nation could be forced out of the euro. “Euler Hermes will most probably …

Berne Union Reports Members Insure $1.8 Trillion of Int’l. Trade, Investment

“The volume of export credits and foreign direct investment insured by members of the Berne Union grew by 17 percent in 2011,” said the Union’s bulletin. “The result is a record amount of $1.8 trillion of trade facilitated more than …