Berne Union
Encyclopedia
The Berne Union, also known as The International Union of Credit & Investment Insurers, is the international organisation and community for the global export credit and investment insurance
industry.
The mission of the Berne Union is to actively facilitate cross-border trade by supporting international acceptance of sound principles in export credits and foreign investments and by providing a forum for professional exchanges among its members.
The Berne Union was formed in 1934 by four public and private export credit institutions in an attempt to reduce commercial risk by exchanging reliable information on foreign buyers. The Union is legally domiciled in Bern, Switzerland, though it has not met there since 1939.
There are just over 50 member companies of the Berne Union. They occupy a key position in global trade markets, covering US$1.3 trillion worth of new business in 2007.
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
industry.
The mission of the Berne Union is to actively facilitate cross-border trade by supporting international acceptance of sound principles in export credits and foreign investments and by providing a forum for professional exchanges among its members.
The Berne Union was formed in 1934 by four public and private export credit institutions in an attempt to reduce commercial risk by exchanging reliable information on foreign buyers. The Union is legally domiciled in Bern, Switzerland, though it has not met there since 1939.
There are just over 50 member companies of the Berne Union. They occupy a key position in global trade markets, covering US$1.3 trillion worth of new business in 2007.