In this Perspectives paper delivered at the February 2013 Insuring Export Credit & Political Risk conference in London, Charles Berry, chairman of BPL Global, explained why exporters seeking medium and long term (MLT) export credit insurance should expect increased choice.
A key driver for change is the continuing growth of the private insurance market and its increasing ability to deliver non-cancellable MLT cover on a comparable basis to government export credit agencies (ECAs). So too is the re-rating of the ECAs proposed by the Basel 3 banking accord, under which ECAs will in future carry the sovereign ratings of their respective governments.
In this paper Charles Berry argues the case for a ‘mixed market’ comprising both the ECAs and private sector insurers. Such is not only possible but a desirable provider of wider choice for policyholders.