The Export Credit Guarantee Corporation of India (ECGC) and National Insurance Company Ltd have decided to unite to provide marine insurance as an 'add on' facility to exporters who opt for ECGC's specific shipment policies for comprehensive risks from the next fiscal year.
"Exporters will now be able to get the credit insurance along with marine insurance without any additional cost. Initially while this will be offered only to specific shipment policies, once we acquire experience we will be able to extend it to other areas as well," said Mr P.M.A. Hakeem, chairman and managing director, ECGC.
The two companies signed a memorandum of understanding (MoU) for promoting and expanding exports of small- and medium-size enterprises (SMEs).
