Introduction to export credit insurance

The Export Credit Insurance program helps U.S. exporters develop and expand their overseas sales by protecting them against loss should a foreign buyer or other foreign debtor default for political or commercial reasons. With an Eximbank policy exporters can also obtain export financing more easily because with prior approval the proceeds of the policy can be assigned to a financial institution as collateral. To encourage the export of U.S. goods and services, Eximbank tailors its policies to the insurance needs of exporters and financial institutions. For example, insurance policies may apply to shipments to one buyer or to many buyers, insure comprehensive credit risks or only specific political risks, or cover short-term as well as medium-term sales. Two policies the New-to-Export Policy and the Umbrella Policy-are geared specifically to small businesses just beginning their export sales program. Eligibility criteria differ for each type of policy