Devising new group credit insurance cover to exporters by ECGC -reg.

HEPC/EP/Policy/2016

27.04.2016

All members,

Sub: Devising new group credit insurance cover to exporters by ECGC -reg.

Council has received letter from Ministry seeking comments/views on devising new group credit insurance cover to exporters by ECGC and the extract of the letter received from ECGC Ltd is given below and is self explanatory.

In order to enhance the role of ECGC in enabling expansion of exports, it is proposed examining a group cover for members of Export Promotion Councils, either in whole or in groups or in sub groups. The advantage foreseen is that all members exporting same category of products would have a better idea of likely problems in a particular country or set of buyers. The maximum liability could be fixed separately for the group and for each member within the overall liability. The premium rates applicable can also be worked out to a finer extent if sufficient volumes are assured. We have broached this proposal with few councils and they have expressed apprehensions about the feasibility itself.

In this regard, member exporters are requested to send their feedback/suggestions so that the same could be forwarded to the Ministry.

Sincerely yours,

(R.Anand)
Executive Director