Foreign Credit Insurance Association - FCIA

DEFINITION of 'Foreign Credit Insurance Association - FCIA'

A federal agency that provides insurance for U.S. exporters. The Foreign Credit Insurance Association is a voluntary association formed in 1961 by some 50 U.S. insurance companies and sponsored by the Export-Import bank.

BREAKING DOWN 'Foreign Credit Insurance Association - FCIA'

The insurance provided protects the purchaser from both commercial risk (when the debtor is unable to pay due to their business situation) and political risk (when the debtor is unable to pay due to changes in the politics of a particular country). The Export-Import bank deals primarily with political risk, while the FCIA covers commercial risk.

RELATED TERMS
  1. Bank Letter Of Credit Policy

    An insurance policy that allows U.S. banks to confirm letters ...
  2. Associate In Insurance Services ...

    A designation earned by insurance professionals and conferred ...
  3. Bureau Rate

    A standard price per unit of insurance set by a state's insurance ...
  4. American Risk and Insurance Association

    A professional organization for academics and associates in the ...
  5. Commercial Lines Insurance

    Commercial insurance lines help keep the economy running smoothly ...
  6. Assigned Risk

    A risk that an insurance company is required to provide coverage ...
Related Articles
  1. Personal Finance

    Intro To Insurance: Fundamentals Of Insurance

    By Cathy ParetoHow does insurance work? Insurance works by pooling risk.What does this mean? It simply means that a large group of people who want to insure against a particular loss pay their ...
  2. Personal Finance

    Exploring Advanced Insurance Contract Fundamentals

    Understanding your contract can help you protect our family's financial security.
  3. Personal Finance

    Bundle Your Insurance For Big Savings

    Bundling your insurance can save you money and time. Read on to see how get the most out of multiline insurance discounts.
  4. Personal Finance

    Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.
  5. Personal Finance

    What Happens If Your Insurance Company Goes Bankrupt?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.
  6. Personal Finance

    The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.
  7. Trading

    Intro To Insurance: Conclusion

    By Cathy ParetoInsurance is an integral part of any personal financial plan. The type of insurance and the amount of coverage you obtain all depends on your unique financial and family circumstances, ...
  8. Markets

    Insurance Companies Vs. Banks: Separate And Not Equal

    Insurance companies and banks are both financial intermediaries. However, they don't always face the same risks and are regulated by different authorities.
  9. Personal Finance

    How to Protect Your Income No Matter What

    What does it mean to insure your income? Here are a variety of ways to do it and some insights into when it might make sense to invest in income insurance.
  10. Personal Finance

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
RELATED FAQS
  1. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
  2. Can your insurance company cancel your policy without notice?

    Learn about your rights as an insured when it comes to your insurance policy being canceled, including how to access your ... Read Answer >>
  3. Should I be worried about my insurance company?

    Yes, policyholders should also take a serious look at the financial stability of their current insurance company especially ... Read Answer >>
  4. What risks do I face when investing in the insurance sector?

    Read about the unique challenges faced by insurers, and learn how those challenges manifest themselves as risks for equity ... Read Answer >>
  5. What are some examples of when insurance bundling is a bad idea?

    Learn about situations where insurance bundling may not be a favorable option. Bundling insurance is often a good idea, but ... Read Answer >>
  6. What is the usual profit margin for a company in the insurance sector?

    Learn what the average profit margin is within the insurance industry, and what factors can affect the profitability of an ... Read Answer >>
Trading Center