Foreign Credit Insurance Association

Foreign credit insurance association fcia.

Foreign credit insurance association. Listen to the audio pronunciation in english. How to say the foreign credit insurance association. Partnership between an agency of the u s. Insures that businesses are indemnified for losses resulting from uncollectible accounts for goods sold in foreign markets.

The foreign credit insurance association fcia is an independent association of insurance companies that issues export insurance to exporters of american goods. The foreign credit insurance association fcia is a united states agency founded in 1961 by a group of insurance company. The foreign credit insurance association pronunciation. A federal agency that provides insurance for u s.

An independent federal agency formed in 1961 by a group of united states insurance companies which insures exported goods for us companies. Government and the foreign credit insurance association 50 commercial insurance companies both stock and mutual. Same as term export import bank. The fcia was established in 1961 and its policies insure receivable accounts of american exporters in the event their foreign customers default on their payments.

It offers insurance to companies that export goods which covers both financial and political risks. The foreign credit insurance association is sponsored by the export import bank and protects exporters against both political risk and commercial risk.