Export credit insurance claims zoom

Inspite of high claims from exporters, state-owned Export Credit Guarantee Corporation of India (ECGC) has decided not to increase the premium rates on credit insurance policies. ECGC holds more than 90 per cent market share in credit insurance, for which policies are bought to secure exporters from defaults, insolvency or bankruptcy among overseas buyers, or risks specific to the importing country, such as civil strife, import bans and curbs on remittances.

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