Abstract
This chapter discusses export credit insurance. Two aspects of recent worldwide developments have led to special attention being focused on the financing and risk coverage of international trade. In the wake of worldwide economic recession, the problems of international competition and protectionism have become more acute. The unresolved debt crisis of developing countries also raised the important question of assessing sovereign risks. It is, therefore, not inappropriate at this juncture to focus on export credit insurance and its role in international trade finance. Export credit insurance can be defined as a distinct branch of insurance that protects an exporter against the risks of nonpayment or of frustration of contract because of commercial and noncommercial causes—such risks are not normally covered by commercial insurance, such as fire and marine cargo insurance. Export credit insurance can help small- and medium-sized companies overcome problems when they venture into international trade.
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