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Export-Import Bank of the United States Broker Conference 2011 Multibuyer Insurance.

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Presentation on theme: "Export-Import Bank of the United States Broker Conference 2011 Multibuyer Insurance."— Presentation transcript:

1 Export-Import Bank of the United States Broker Conference 2011 Multibuyer Insurance

2 Export-Import Bank of the United States ▪ Authorized Risk: $1.8 B (+16%) ▪ Shipments: $2.72 B (+18%) ▪ Policy Count: 2,035 (+15%) ▪ Claims Filed: 189 (+55%) ▪ Filed amounts: $15M (+33%) 1 ST Multibuyer Insurance FY ’10 Review

3 Export-Import Bank of the United States ▪ESS Policy transferred to Trade Finance Div. ▪TCI Division staffing increased from 15 to 21 ▪Turnaround times improving ▪Modified policy text + U.S. content guidelines for small business ▪New products: Reinsurance, Express 2 Developments at Trade Credit Insurance Div.

4 Export-Import Bank of the United States 3 Improved Cycle Times: Multibuyer Quotes

5 Export-Import Bank of the United States 4 Improved Cycle Times: SBCLs Under $300K

6 Export-Import Bank of the United States 5 Improved Cycle Times: SBCLs Over $300K

7 Export-Import Bank of the United States Article 3: ▪ Shipper must be unaffiliated unless approved by Ex-Im ▪ Delivery to buyer in U.S. at contiguous borders ▪ Delivery to buyer in U.S. (non-contiguous countries) Article 10: ▪ Definition of “U.S. Content” added to benefit small business Coming Soon: ▪ New services endorsement with content upgrades 6 Multibuyer Policy Changes (July 2010)

8 Export-Import Bank of the United States ▪Named buyer policy for small businesses w/ < $7.5M export credit sales ▪Short application (15 questions), no exporter financials required * ▪Free credit agency reports on buyer credit applications ▪Five day decisions on policy quote and buyer credit feasibilities up to $300,000 ▪Reporting existing buyers is optional ▪Standard and enhanced assignment available 7 Express Insurance Policy Features * Financial statements required for Enhanced Assignment qualification or very high risk exporters

9 Export-Import Bank of the United States ▪ENB (Express) acronym to start ▪Pricing: “Old” ENB premium rates ($0.65 for 60 days) ▪Same Multibuyer policy, new “reportable transaction” definition ▪Same Multibuyer endorsements, special conditions, and assignments ▪12 month renewable policy, no deductible or DCL ▪Graduate to deductible Multibuyer if shipments are greater than $7.5M 8 Express Insurance Documents

10 Export-Import Bank of the United States ▪Posted on Ex-Im website’s small business portal ▪Formal introduction at Ex-Im’s 2011 Annual Conference ▪Posted on US.gov website for export promotion ▪“Global Access” press releases in production ▪Initial direct mail to 4,500 “new-to-market” small business exporters ▪Ex-Im Regional Sales Offices refer leads to brokers 9 Promoting Express

11 Export-Import Bank of the United States 10 Demo Online Express Application


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