ECIC gets innovative

Hong Kong government-owned Export Credit Insurance Corp is capitalizing on its new- found popularity with some innovative alliances.

Small and medium-sized SME exporters are to reap the benefits of a new alliance between Hang Seng and the Hong Kong government-owned Export Credit Insurance Corporation ECIC.

Under an Export Finance Insurance Policy signed between Hang Seng and ECIC, the insurance agency will insure the bank against losses arising from non-payment by exporters post shipment. ECIC will indemnify the bank up to 90% of the losses incurred due to buyer risk and risks associated with a particular...

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