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Ex-Im Bank has over 1600 Multi-buyer Export Credit Insurance Policies in effect and insured approximately 110,000 shipments under these Policies in the last year.  Your Policy provides valuable protection when some invoices go unpaid and you have to file an insurance claim with Ex-Im Bank.  Unfortunately, some claims are denied because the insurance policyholder failed to do something required under the Policy.  Please help us to help you avoid these mistakes.  Here are four common reasons that multi-buyer insurance claims are not paid.

  1. LATE CLAIM FILINGS – In order to be paid in full under the Policy, you must file your claim on time.  We mustreceive your proof of loss (i.e., your claim form) within 240 days of the date of non-payment.  (See Article 8, Proof and Payment of Claims.)  And remember – you can file your claim on-line at www.exim.gov.

  2. LACK OF PROOF OF EXPORT – You must have shipping documents that show that the items you sold were shipped outside of the United States (and its Territories) – or you must abide by the terms of an endorsement permitting you to ship to a location in the United States.  (See Article 3.C.(2) and Article 11.C.) 

  3. VIOLATING DISCRETIONARY CREDIT LIMITS – Whether you are using "credit DCL" or "ledger DCL", you must make sure that you have met all of the requirements to use your DCL authority.  (See your Discretionary Credit Limit Endorsement.)

  4. FAILURE TO STOP SHIPPING – Both your Policy and your Discretionary Credit Limit Endorsement require you, in certain situations, to stop shipping to buyers who are overdue on their payments to you.  (See Article 6.B and your Discretionary Credit Limit Endorsement.)

Please remember, you must read and understand your entire Policy – and especially read the endorsements!  In order to get your claim paid, there are other conditions in the Policy that must be satisfied in addition to those mentioned here; these are just a few of the items that may cause denials of your claim.  Please visit the Claims and Asset Management section for a review of other types of mistakes that result in claim denials and for help understanding your Policy. 

When in doubt, contact your broker or your Ex-Im Bank relationship manager for assistance.  Our goal is to help you file complete and correctly documented claims so we can pay them quickly!