International Credit Insurers Union

Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
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An international association of export credit insurance institutions (Berne Union) founded in 1934 as the Insurers Union for Control of International Credit.  The association is composed of both private and government-owned institutions.  Its charter now allows membership of insurance institutions who deal exclusively in investment insurance and underwrite investment risks.  United States members of the union include the Export-Import Bank, the Foreign Credit Insurance Association, and the Overseas Private Investment Corporation.  The Union's purposes are (1) the international acceptance of sound principles of export credit insurance and the establishment and maintenance of discipline in the term of credit for international trade; and (2) international co-operation in fostering a favorable investment climate and in developing and maintaining sound principles of foreign investment insurance.

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