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INSURERS
In credit insurance, a fast-growth part of export finance, U.S. exporters now work with ten underwriters (seven include a small and mid-size business focus). Main product is the multi-buyer policy, but the top customer (key buyers) policy is popular, and single buyer cover is expanding again, including medium-term. Most insurers sell through brokers, but three (Atradius, Coface, Euler) also have in-house national sales staffs. Ace Ltd. -- Large Bermuda insurer, many products, began U.S. trade credit ops in 2005, works with large companies. NY office: 212-642-7800 Atradius Trade Credit Insurance -- Amsterdam-based credit insurer, long history, in U.S. since 1992. Multi-buyer, top customer policies. Baltimore HQ: 800-822-3233. Web site: www.atradius.us. Chartis Insurance -- Large insurer (was AIG), trade credit pioneer, focus on multinationals, also mid-size exporters. Multi-buyer, top customer policies. NY: 877-638-4244. E-mail: worldsource@chartisinsurance.com. Coface North America -- Unit of large Paris trade credit insurer, long history, U.S. ops began 1990s. Single, multi-buyer policies. Small to large exporters. East Windsor, NJ HQ: 877-626-3223. E-mail: Insurance@coface-usa.com. Euler Hermes ACI -- U.S. subsidiary of large Paris creditr insurer. Long history, bought U.S. insurer 1990s, covers small to large exporters. Multi-buyer policy. In Baltimore: 877-883-3224. FCIA Management Co. -- Runs trade credit for Great American Insurance Co. Ran Ex-Im Bank program. Small-large exporters. Multi, top, single buyer policies. In NY: 212-885-1500. E-Mail: service@fcia.com. HCC Credit Group -- Part of HCC Insurance Holdings (general insurer), covers short and medium-term, single and multi-buyer. Works with small to large exporters. In NY: 212-326-9403. E-mail: mreynolds@hcccredit.com. Lloyd's of London -- Venerable insurance market has several syndicates that insure trade cdredit. Place to go for large, complex deals. Accessed through special Lloyd's brokers, U.S. brokers work with them. QBE Trade Credit -- Part of big Australian general insurer QBE, opened 2005 in U.S. Multi-buyer, top, single buyer policies.Mid-size to large exporters. In NY: 212-894-7744. E-mail: Edward.ashby@u.s.qbe.com. Zurich Credit & Political Risk -- Unit of Zurich Financial Services. Swiss conglomerate. Offers short, medium-term cover, to large multinationals, banks, exporters. Baltimore: 410559-8723. Gerald.haley@zurichna.com. |
BROKERS
Insurance brokers play a central role in arranging, administering export credit policies. They work with insurers, find appropriate cover, negotiate details, help exporters comply with rules, handle claims. About 50 brokers deliver 95% of exporters' policies, another 20 are also active. Most are specialty firms, focus mainly on exporters. Most are boutique groups, often with a nationwide clientele. Some have multiple offices. Several belong to specialty networks. Ten to 15 brokers double as arrangers, help smaller, mid-size firms find, work with lenders, put together credit and insurance packages. Here's a look at several of the veterans: EIA Global -- Walpole, MA -- Units in NYC, LA, Dallas -- Pioneer (1979) -- President Albert Giandomenico ex-FCIA; staff ex-FCIA, Ex-Im, banks -- Member Global Network (London) -- 508-668-0982. E:mail@eia-global.com. Export Risk Management -- Salisbury, CT - Started 1994 -- Prez Carey Fiertz ex-FCIA, Ex-Im, AIG, Chubb -- American Export Training Institute unit coaches exporters, banks -- Call 860-435-0430. E: cfiertz@exportrisk.com. Global Commercial Credit -- Bingham Farms, MI, Units in CT, FL, MD, IL -- Started 1995, founder Victory Sandy ex-Euler Hermes, founder Craig Bonnell ex-GE Capital -- Call 248-646-9400. E: gcccoverage@gccrisk.com. International Risk Consultants -- Columbus, OH -- Units in IL, IN, MI, NY, TX, CA, Canada, Brazil, HK, China -- Started '87, founders John Johnstone, Robert Downey ex-Ohio Int'l Trade Div. - Int'l Credit Brokers Alliance (Paris) -- Call 614-224-7623 -- E: questions@irc-group.com. Meridian Finance Group -- Santa Monica, CA -- Units San Francisco, San Jose, Seattle, Phoenix, Raleigh -- '93 founder Gary Mendel ex-corporate CFO -- Active arranger -- 310-260-2130 -- Email: info@meridianfinance.com. Provident Traders -- Philo, CA -- Started 1988 -- Founder John Keevan-Lynch ex-trade banker (Pacific Overseas Finance Corp) -- Active arranger, Mexico, L.America focus -- 707-895-9353 -- jkl@providenttraders.com. |
