Export Insurance Policy

UK Export Finance's Export Insurance Policy helps protect UK exporters against the risk of non-payment by an overseas buyer, covering events such as buyer insolvency, failure to pay, or political, economic or administrative events outside the UK that prevent payment in foreign currency, including hostilities or civil disturbances. UKEF provides this cover where the private insurance market is unwilling or unable to do so, and may ask whether the exporter has tried to obtain credit insurance privately first. Premiums are assessed case-by-case based on the contract, buyer, market and risk profile. The product is aimed at emerging and developing markets; UKEF is prohibited under UK trade agreement obligations from offering short-term (under 24 months) cover in the EU, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA. A related Small Export Builder option covers multiple contracts with the same buyer, starting with an initial credit limit of up to £25,000 that can be incrementally increased by 50% once prior insured amounts have been paid, up to a maximum of £100,000. Businesses can get instant quotes or apply via GOV.UK depending on buyer type and cover length; a separate Bond Insurance Policy covers unfair demands under bonds or counter-guarantees.

Applicants must be exporting from the UK with an established UK business base, have at least 20% of the export value made up of UK goods or services, and have a buyer based overseas in an emerging or developing market covered by UKEF's country list.