What perils are covered?

Most credit insurance policies insure against non-payment for virtually any reason. Coverage for export sales typically includes political risks, such as wars or import/export embargoes, and commercial risks, such as bankruptcies and protracted defaults (losses where the buyer is neither bankrupt nor insolvent, but still unwilling or unable to pay). 

The risk of currency devaluation is generally not covered as a political risk, as the mere fact of a devaluation does not necessarily mean a customer cannot pay. Losses resulting from a devaluation are usually covered as "commercial risks."

The seller is typically covered for 90-95% of the invoiced amount, after the application of the deductible (if any). If the sales contract includes post-maturity (penalty) interest, it is usually covered at no additional cost.

What is not covered?

Exclusions include failure to comply with policy terms, such as forgetting to report and pay premium on a sale, or non-payment due to a legitimate product dispute.

A legitimate product dispute occurs when both parties agree there is a mismatch between the purchase order and the product being invoiced. In such a situation, the seller is usually only insured when a court (typically in the buyer's country) agrees that the buyer is, in fact, obligated to pay.

When can claims be filed?

An Eximbank policyholder may file a claim after a transaction is 90 days overdue, and must file the claim before it is more than 240 days overdue. 

Commercial policies may require longer waiting periods in higher-risk countries. Claims are typically paid within 30 days of receipt of complete documentation.

What products qualify for coverage?

Commercial insurers have virtually no product restrictions, and will readily cover shipments originating in countries other than the U.S. 

Eximbank-insured products must be produced in the U.S. (no more than 49% foreign content); they may not be further processed outside the U.S. by the exporter; they may not be "defense products;" and all products must be shipped from the U.S. directly to an unrelated buyer located outside the United States.


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This is a description of certain features of typical insurance policies. Your policy may be different. The actual terms and conditions are contained in the applications, policy text, and endorsements. This is not a solicitation of coverage, which can only be made by a licensed insurance broker or authorized representative. Please read our disclaimer.


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