ECGC provides credit insurance to exporters, safeguarding them against risks associated with non-payment by foreign buyers. The premium for ECGC policies is determined based on several key factors:
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- Type of Policy: ECGC offers various policies, including the Standard Policy, Small Exporter’s Policy, and Specific Shipment Policies, each with distinct premium rates.
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- Country Risk: The premium is influenced by the risk classification of the buyer’s country, as assessed by ECGC. Higher-risk countries, whether due to political or economic instability, result in higher premiums.
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- Terms of Payment: The premium also varies based on the terms of payment. More secure terms, such as Letters of Credit (LC), attract lower premiums, whereas terms like Documents Against Acceptance (DA) with extended credit periods lead to higher premiums due to increased risk exposure.
Premiums are typically calculated as a percentage of the insured amount or shipment value and can be paid either upfront or in installments, depending on the policy terms.
Additionally, ECGC offers a yearly No Claim Bonus of 5%, rewarding policyholders who do not file claims.
Calculate ECGC Premium
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To check the country rating, please visit our page ECGC Country Rating
* The premium calculation has been prepared using publicly available data. You may kindly contact the nearest ECGC office for a premium quote, premium discounts, etc.