3/8/2014 ECGCAPNationalExportInsuranceAccount

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About Us Home Ab out Us National Export Insurance Account

Company Profile What is NEIA?

Management The National Export Insurance Account has been set up by the Government of India

Corporate Governance (GOI) and operated by ECGC to provide adequate credit insurance cover to protect
long and medium term exporters against both, political and commercial risks of the
Corporate Social Responsibility (CSR)
overseas country and the buyer/bank concerned. The NEIA trust also provides
Corporate Alliance covers to banks for Buyers Credit transactions which facilitates foreign buyer to pay
for project exports from India.
Career with ECGC
Indian companies secure overseas projects against stiff international competition
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and needs adequate credit insurance to enhance their competitiveness. Projects
Citizen's Charter are required to be undertaken, specifically due to the long term economic interest
and political relationship of India with importing country. Given Indias long term
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economic and political interests with the concerned country, it is crucial that ability
National Export Insurance Account of Indian exporters undertaking such contracts is not hampered by the inability to
obtain credit insurance cover. With this view GOI has set up the NEIA.

ECGC, a Govt. of India enterprise under the aegis of the Ministry of Commerce,
apart from insuring credit risks under short term exports also provides credit
insurance cover to Medium and Long term exporters. However, at times, its own
limitations make it difficult for ECGC to cover such risks on purely commercial
considerations, taking into account the long repayment period, the large value of
the contracts and the difficult economic and political conditions of the country,
coupled with the fact that reinsurance cover is generally not available in such
cases.

The NEIA Trust, a public trust set up by the Government will manage the funds
provided by the Government. The trust has been assured a corpus of Rs.2,000
crores by the end of the 11th plan period. At any point of time an exposure equal to
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ten times of the corpus will be underwritten by NEIA subject other criteria.
IRDA Registration No. 124. Insurance is the subject matter of solicitation.
To ensure
Copyright Exportproper & effective
Credit Guarantee utilization
Corporation of the
of India NEIAAllscheme,
Ltd. 2012. to monitor its
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operations and to provide guidance, the GOI has set up a High Powered
Committee, the Committee of Directions (COD) comprising : a) The Secretary-
Insurance Regulatory and Development Authority Ministry of Commerce Reserve Bank of India EXIM Bank Indian Institute of Foreign Trade
Ministry of Commerce- Chairman b) The Secretary-Department of Economic Affairs
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c) The Secretary- Ministry of External Affairs, d) The Additional Secretary and
Financial Advisor-Dept. of Commerce, e) The CMD-ECGC, f) The CMD- Exim Bank,
g) Representatives of the Reserve Bank of India, h) Joint Secretary- Ministry of
Commerce & Industry, who is also a Member Secretary.
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