Indian ECA ECGC expects more claims as EU crisis continues

 Indian ECA ECGC expects more claims as EU crisis continues(SME Times, New Delhi, 29 August 2012) India's state-owned export credit insurer ECGC has expressed concern that the number of claims against insurance cover is likely to rise in the coming months due to the ongoing Eurozone crisis, resulting in higher costs. "This year the Eurozone affect is still there and we have to pay higher claims in the current year or year after that. So far, in the last five months it (the claims) is not very high. But in the coming six months we have to pay higher claims," said Shri Shankar, Chairman & Managing Director of the Export Credit Guarantee Corporation of India.