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31 October 2007


Credit Insurance broker alliance ICBA announced new products and appointment to two multi-national's global programmes at October Dublin conference.


At the autumn meeting of the International Credit Brokers Alliance (ICBA) in Dublin hosted by CIMCO, ICBA announced that it had been appointed to manage the global credit insurance programme for two significant multi national companies. They represent the underwriter's two largest global policyholders. This serves to validate the unique capabilities of ICBA and the confidence that large multi national companies have in the ICBA network. ICBA also announced a marketing strategy that will strengthen its global brand.


Partners from around the world attended the three-day meeting and were updated on several new products developed by ICBA members and being introduced to the market -Unicover© has been re-introduced into the market providing an on-line solution to companies wanting to insure single buyer credit and cargo insurance on a shipment-by-shipment basis. The credit insurance is underwritten by Atradius and negotiations are underway to take the product into other markets. The product benefits companies who do not have an existing global credit insurance programme.


PaymentPlus©, a product developed by ICBA UK and underwritten by Euler Hermes, is a unique product designed to enhance credit insurance for financiers. The PaymentPlus policy provides cash flow enhancement by paying a claim 30 days from placement of the debt. Basically, on day 30 the insured debt will be paid into the nominated bank account irrespective whether or not the payment has been received from the insured debtor.


OptionPolicy©, another initiative of ICBA Belgium is the development of a policy that provides the client with the option of whether or not to report a loss to the insurer. Further details can be found at http://www.optionpolicy.com. Formed in Paris in 1999, ICBA combines the largest co-ordinated pool of brokerage expertise in the credit insurance industry. Its mission is to provide international companies with local service and international coordination as well as central reporting in credit insurance and trade services. ICBA is recognised as the leader in developing innovative and unique credit insurance programme structures.



ICBA Quick Facts


  1. •Represented in 23 countries in Europe, Asia, The Americas and Australia

  2. •Over 6500 customers

  3. •Insuring in excess of 120 billion Euro

  4. •Employs 260 credit insurance professionals

  5. •ICBA members are recognised as leaders in their respective markets

  6. •Represent all the major credit insurance companies around the world

  7. •The ICBA network continues to grow with the recent addition of member brokers in Australia, New Zealand and Turkey. "ICBA is the fastest growing and most dynamic independently owned brokerage alliance focused exclusively on the credit insurance market and we continue to seek growth opportunities in new geographic markets," said Winfried Vogt, Chairman of ICBA. "Our member firms share similar values and the combined expertise and experience of our group is unrivalled." For all your international credit insurance needs


ICBA's next meetings will take place in Vilnius, Lithuania in March 2008 and Canada in the autumn of 2008.