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Reinsurance

Cooperation among insurers from different countries is on the rise as part of the globalization process. Reinsurance is a proven tool of safeguarding transactions with international content or supplier participation, with the ECA of the main supplier providing coverage for the entire project. The ECA of the third country can reinsure risks vis-à-vis the primary insurer in the ratio of the subcontract to the main contract. If a claim arises the primary insurer falls back on the reinsurer. Only SERV or the involved foreign ECAs determine whether or not reinsurance is concluded.

Foreign content

Foreign content can be included in the coverage up to a proportion of 50% of the order value. SERV can cover up to 70% of foreign content as an exception. Should the 70% limit be exceeded, the foreign share has to be compensated through reinsurance. Premium surcharges apply to all exceptions. SERV may impose limitations for major amounts or for transactions with increased risks, including in the case of a foreign content share under 50%.

Version: 29.11.2013

© 2011   SERV Swiss Export Risk Insurance, Zurich

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