navigation search the topic of this article may not meet wikipedia s notability guidelines for companies and organizations . please help to establish notability by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond its mere trivial mention . if notability can not be established the article is likely to be merged redirected or deleted . find sources international credit insurance & surety association news newspapers books scholar jstor free images january 2013 learn how and when to remove this template message international credit insurance & surety association icisa type international association industry trade credit insurance and surety genre trade credit insurance surety reinsurance founded 1928 as international credit insurance association icia 2001 renamed to icisa headquarters amsterdam the netherlands area served worldwide key people jos kroon president richard wulff vice president robert nijhout executive director treasurer number of employees 5 website http www.icisa.org the international credit insurance & surety association icisa was founded in april 1928 forming the first trade credit insurance association . 1 the association is registered in zurich switzerland under swiss civil code article 60 . 2 the secretariat is based in amsterdam . contents 1 about icisa 2 object of the association 3 some issues addressed by icisa 4 members and their lines of business 5 history 5.1 founding members 6 relevance 7 references 8 external links about icisa edit the international credit insurance & surety association icisa is a global association representing trade credit insurers and surety companies . icisa members facilitate trade by insuring payment risks resulting from local sales as well as exports or by providing security for the performance of a contract . members of icisa meet regularly and benefit from an exchange of information and expertise . icisa has a role as advocacy and media relations organisation on issues and topics that are relevant for the members . icisa advises international and multinational authorities on issues related to the trade credit insurance and surety bond industries . object of the association edit the object of the association is to study questions relating to credit insurance and surety to provide opportunities for members employees to acquire knowledge of the theory and practice of credit insurance and surety underwriting and to represent the members interests . 2 some issues addressed by icisa edit technical excellence innovation and product integrity . review of the effects of cross border insolvencies recommendations with regard to binding orders and non cancellable limits report on issues concerning fronting for surety bonds recommendations with regard to pre shipment cover review of political risk syndication of credit risks the impact of globalisation on credit insurance review of co surety as an alternative to reinsurance monitoring developments in custom and excise bonds exploring areas for surety business publication of the catalogue of credit insurance terminology promoting sustained quality management discussions between members exchanging experience and best practices on current challenges review of capital and portfolio management tools review of cycle management options review of the current and future reinsurance environment review of co insurance and facultative reinsurance options advising international and multinational authorities sharing effects of the state support schemes creating awareness at the european commission of the lack of a level playing field for surety products promoting a global level playing field for surety insurers in public contracts counterpart for the comit europ en des assurances cea in the drafting and implementation of solvency ii requirements promoting the icc uniform rules for contract guarantees participating in meetings of the un commission on international trade law uncitral advising the international accounting standards board iasb on their proposals with regard to the credit insurance and surety sectors advising rating agencies on the role of surety bonds on ppi ppp infra structure projects advising ceiops european commission on solvency ii proposed legislation sharing and assessing the possible impact of basel iii on trade credit insurance and surety industry structural initiatives founding member of the international surety association isa which undertakes joint projects together with national surety associations of australia canada mexico and the usa partner in an industry project to determine the probable maximum loss pml or loss given default lgd of underwritten risks research into standardising reinsurance requirements press conference calls to inform media on topics of interest publication of an industry newsletter publishing icisa catalogue of trade credit insurance and surety english french italian spanish and german members and their lines of business edit trade credit insurance trade credit insurance insures against the risk of non payment by a buyer . if a buyer does not pay the trade credit insurance policy will pay out a percentage of the outstanding debt . this percentage usually ranges from 75 % to 95 % of the invoice amount but may be higher or lower depending on the type of cover that was purchased . surety and bonds surety bonds guarantee the performance of obligations from construction or service contracts to licensing to commercial undertakings . the surety guarantees to pay the direct loss suffered by one party generally employer or beneficiary as a result of a contractual default by the other party generally known as the contractor . for example the failure of a contractor to complete a contract in accordance with its terms and specifications or the failure of an enterprise to pay taxes or customs duties to a government or department . members main lines of surety business are customs tax and or similar bonds bonds concerning concessions and licenses judicial bonds bonds concerning purchases of goods and or services bonds concerning leases bonds concerning construction and or supply contracts financial bonds other bonds reinsurance a reinsurance company insures the risk that has been underwritten by an insurance company . the risk of a major loss event imposes a burden that no single company can bear . reinsurance makes it possible for these risks to be underwritten . in a way one could say reinsurance is insurance for insurance companies . over the years the international reinsurance sector has developed into a highly specialised financial services industry that works closely in conjunction with direct insurers to meet the needs of their cursomers . icisa s reinsurance members have departments focusing only on the reinsurance of credit insurance and surety risks . history edit icisa was established as icia international credit insurance association in 1928 . current members account for 95 % of the world s private credit insurance business insuring risks in most countries . 1 founding members edit cobac of belgium now euler hermes cr dito y cauci n now part of atradius group eidgen ssische of switzerland now winterthur hermes of germany now euler hermes ncm of the netherlands now atradius sfac of france now euler hermes siac of italy now euler hermes trade indemnity of the uk now euler hermes . relevance edit icisa s members account for over 95 % of the world s private credit insurance business . icisa members insured over 2 trillion usd worth of trade worldwide . in 2012 the association counted 48 members . references edit a b icisa . icisa history . a b icisa 11 june 2010 . statutes of the international credit insurance surety association pdf . external links edit icisa website v t e present international credit insurance & surety association icisa members ace usa united states acredia versicherung ag ex prisma austria afianzadora latinoamericana argentina amlin bermuda arch re europe ireland argo surety united states askrindo indonesia aspen re europe switzerland atradius netherlands axa assurcredit france axa winterthur switzerland axis re ireland catlin re switzerland cesce spain china national investment & guaranty company china china pacific insurance co. ltd china chubb united states clal israel coface france cosec portugal cgic south africa credimundi ex ducroire delcredere belgium ecics singapore endurance switzerland euler hermes france fianzas atlas mexico garant austria the guarantee company of north america canada groupama assurance cr dit france hannover re worldwide hcc international uk icic israel liberty mutual usa lombard insurance company south africa mitsui sumitomo japan munich re worldwide nationale borg netherlands novae group plc uk partner re worldwide picc china ping an p & c china qatar re qbe insurance australia r v re germany sace bt italy scor global p & c se worldwide seoul guarantee insurance company korea sid first credit slovenia sompo japan japan swiss re worldwide tokio marine & nichido fire japan travelers insurance usa tryg garanti denmark zurich insurance group zurich insurance plc niederlassung f r deutschland germany zurich north america usa zurich global corporate surety uk retrieved from https en.wikipedia.org w index.php title international credit insurance % 26 surety association & oldid 728770861 categories companies established in 1928international trade associationsorganisations based in z rich1928 establishments in switzerlandhidden categories articles with topics of unclear notability from january 2013all articles with topics of unclear notability navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity 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