After the insured receives payment for outstanding obligations, it may ship again to the buyer up to the SBCL amount within its terms and be insured. In general, policies cover 90 to 98 percent of the commercial risk and 90 to 100 percent of specified political risks. In addition to retaining a percentage of the risk on each transaction, the exporter also may be required to absorb a first dollar loss, called the deductible, on losses that relate to transactions insured under a given policy. There is no first loss deductible for single-buyer or small business policies. Premiums Premiums for standard short-term comprehensive multibuyer policies vary with the credit terms, exporter experience, the quality and number of buyers being insured, and the importing countries.
Most policies require a minimum premium to be paid in advance at the beginning of every policy year.
Premiums for multi-buyer policies generally are paid monthly in tandem with submission of a report of shipments and premiums payable. Premiums for single-buyer policies are paid in advance of shipment. The premiums for small business policies come from a rate table based on repayment term and type of buyer. Assignment With prior written approval of Ex-Im Bank, an exporter can assign its rights to the amounts payable under a policy to a financial institution to obtain financing. Insurance Brokers Insureds can designate an insurance broker to act as their agent in policy matters.