July 23, 2009
Credit insurance crisis threaten Australian meat exporters
An ongoing credit insurance crisis may jeopardise meat exporters in Australia as the global financial recession is starting to take its toll, according to the Australian Broadcasting Corporation (ABC).
Meat exporters said they need "export credit insurance" to make sure international buyers pay up at the other end. They expressed fear that some insurers won't cover this aspect of international trade due to the world financial problem.
Atradius, the world's second largest insurance company says it is not pulling out of covering whole industries. Managing director of the company's Australian arm, David Huey says they deal with each exporter, case by case.
