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By an order of the Government of the Republic, as of July 1st, the right to issue state export guarantees was given to limited company KredEx Credtit Insurance founded with state participation in 2010. From today, in regard to matters connected with insurance, companies may turn to KredEx Credit Insurance Ltd. offering insurance cover for buyers located in the European Union, OECD and outside. The purpose of foundation of the insurance company was to improve the availability of credit insurance for Estonian companies. The most significant change in former offering of export guarantees is a decrease in important restrictions that were valid for foundation KredEx due to the state aid requirements of the European Union. If only small enterprises exporting to European Union or enterprises exporting to more risky countries could turn to KredEx, in the future the size of enterprise and activity volumes no longer matter.
KredEx Credit Insurance Ltd. offers insurance cover to Estonian enterprises for their total buyer portfolio, regardless of destination country. In addition to credit risks of buyers of export markets, it is possible to insure also internal credit risks with the help of the credit insurance company.
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