ECGC in pact with United India on marine insurance

Chennai, May 16 (UNI) Export Credit Guarantee Corporation of India (ECGC) today signed an agreement with United India Insurance Company (UNIICO) to provide marine insurance cover for its customers.

The marine insurance cover would be an add-on benefit to its policyholders and would be provided through designated branches of UIICO, ECGC Chairman and Managing Director A V Muralidharan told newspersons here.

''ECGC is the fifth largest export credit risk insurer of the world in terms of coverage of national exports. ECGC is recognised as a specialised institution by Insurance Regulatory Development Authority (IRDA) operating exclusively in the field of credit insurance'', he added.

He said the one-year insurance coverage would benefit more than 11,000 ECGC customers.

''Our customers need not pay the premimum for their insured products'', he added.

Mr Muralidharan said the insurance package would cover shipment comprehensive risk policy, small exporters, multi buyer exporter policy and export turnover policy.

However, he refused to disclose the premimum rates for the new policy.

UNI SNR GM 2004