HONG KONG — In a move to support local exporters, especially small and medium-sized enterprises (SMEs), the Hong Kong Export Credit Insurance Corporation (ECIC) has announced a series of new insurance measures aimed at helping businesses navigate recent US tariff actions and expand into new markets.
The measures, unveiled by the Commerce and Economic Development Bureau, are designed to manage trade risks and foster diversification for Hong Kong’s exporters. Effective immediately, ECIC will extend free pre-shipment coverage to holders of its Small Business Policy until June 30, 2026.
For those exporters not covered by the Small Business Policy, ECIC will offer a 50% discount on premiums for pre-shipment risk coverage. This move is expected to significantly reduce the financial burden on businesses that rely on international trade.
In addition, ECIC is introducing a reduction in premium rates for exports to new markets, including ASEAN countries, aligning the rates with those for traditional export destinations. This adjustment aims to encourage SMEs to explore alternative markets and reduce the costs associated with market diversification.
These initiatives come as part of Hong Kong’s broader strategy to support businesses in the face of evolving global trade challenges, particularly the impact of tariff actions by the US. By easing financial risks and promoting market expansion, ECIC aims to bolster Hong Kong’s position as a key global exporter.
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