Export credit insurance corporation of Singapore

• Main Author: Chiang, Yim Teng
• Other Authors: Philip Gerrard
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/64475
• Institution: Nanyang Technological University

The objective of this research project is to establish the range of services that ECICS provides, with emphasis on the Insurance Policies that ECICS issues. The report is intended to act as a source of information and will greatly increase the amount of published information about ECICS. The report provides an overall picture of the three main products of ECICS: namely, the Insurance Policies, the Banker's Unconditional Guarantees and its Sundry Services. The three most important types of Insurance Policy, namely the Comprehensive Policy, Specific Policy and External Trade Policy are described in detail. Interest in the policy monies can be assigned to third parties, such as lending bankers. An explanation is given on how the insurance policies can be used to provide banking security and a description is given on the procedures a banker must follow if a bank is to take an assignment over the policy monies. The development of the products and services of ECICS is also traced quantitatively over the past five years. Figures relating to the number of policies, values of policies, markets covered by comprehensive policies and amount of claims and recoveries are presented and their trends explained. The report fully covers all of those areas which were the object of the original plan. This means that the non-insurance products of ECICS were not analysed and it is recommended that a further research project is set up which concentrates on them.