CURRENT AFFAIRS

Detailed explanation-1: -ECGC launches new scheme to provide up to 90% export credit risk insurance cover for small exporters.

Detailed explanation-2: -Trade credit insurance protects you against the risk of your customers not paying you when trading within India or overseas. For example, if your business supplies goods or services to other companies on credit terms, trade credit insurance can protect against your customers failing to pay you.

Detailed explanation-3: -Credit insurance is a form of insurance policy a borrower purchases in the event of death, injury, or unemployment, in rare cases, paying off one or more existing debts.

Detailed explanation-4: -Providers of Credit Insurance The world’s largest credit trade finance company is Euler Hermes. Other large providers include AIG, Coface, Atradius and FCIA.

Detailed explanation-5: -Credit insurance is a policy of insurance purchased by a borrower to protect their lender from loss that may result from the borrower’s insolvency, disability, death, or unemployment.