What is Export Insurance?

Along with the economic globalization and international trade expansion, competition on overseas markets has significantly increased over the last decade. In order to attract customers and trade with foreign partners, exporters are often required  to sell goods/services on credit terms, when payments are received within months after shipment takes. In these circumstances, there is always a risk of non-payment, either because the customer may be unable or unwilling to pay, or because an unforeseen event prevents wiring of payments (i.e. government intervention, other events in the Foreign Buyer’s country such as administrative decisions or legislative measures preventing the Foreign Buyer from payment, natural disasters, embargos etc.). Export Insurance allows the Seller to avoid such cases and be assured that his receivables are protected from non-payment subject to political and commercial risks.

Why do I need Export Insurance?

Purchasing an Export Insurance policy will enable you to:

1. Offer your customers deferred payment terms being assured that your trade is protected from political and  commercial risks.

2. Increase  trade volumes, enter new markets, acquire new clients meanwhile being sure your will receive your payments for the goods supplied.

3. Improve and manage your cash flows.

4. Obtain financing secured by the insurance policy from the Armenian commercial banks under simplified procedures and on improved terms.

What risks are covered by the Export Insurance offered by EIA?

Export Insurance offered by EIA covers commercial and political risks of the buyer.

Commercial risks are connected directly with the Foreign Buyer and take a form of general inability of the Foreign Buyer to fulfill his payment obligations (insolvency/bankruptcy) or refusal of the payment without any legal reason.

Political risks cause the default of payment by the Foreign Buyer as a result of events in the Foreign Buyer’s country such as administrative decisions or legislative measures preventing the Foreign Buyer from payment, or restrictions in conversion of payments as a result of political occurrences in the country of the Foreign Buyer as well as other events as war, revolution, civil disorders and natural catastrophes.

Which countries are covered by EIA?

The list of countries can be found here.

Why do I need Export Insurance, if I already have Cargo insurance?

Export Insurance is a type of trade insurance which provides indemnification in case the Foreign Buyer fails to fulfill his payment obligations (partially or in full), Cargo insurance is a type of insurance that insures goods in transit from physical damage only. EIA does not deal with other types of insurance including, Cargo insurance.

Can my customer buy goods from me on a deferred payment basis?

Yes, he can. Using the insurance policy of EIA, you can offer your customers deferred payment terms, being assured that EIA will cover your losses in case the buyer fails to fulfill his payment obligations.

Why should I insure my trustworthy customer if I see no risk in our collaboration?

Current economic and political situation in the world makes it complicated to trade with overseas partners and it is difficult to predict in advance all possible risks. Even your trusted client may suddenly appear in a difficult situation which is beyond his control and may fail to fulfill his payment obligations. In addition, by having Export Insurance you can obtain preferential financing from domestic commercial banks.

What if my business needs cash within the deferred payment period?

Insurance policy of EIA can be used to obtain short term working capital financing from domestic Armenian banks on improved conditions and under simplified terms

How is insurance premium calculated?

Insurance premium is calculated on the basis of the destination importing country risk classification, buyer creditworthiness and deferred payment period.

How and when can I get indemnification from EIA?

Information about receiving indemnification can be obtained here.

How can I get Export Insurance?

You can be acquainted with the process here.

Where can I find the applicaion form and list of documents required for signing the Insurance contract?

Please follow the link to find the neccesary information.

Who are the shareholders of EIA?

The only shareholder of the Company is the Republic of Armenia. The following ministries are authorized to manage the state-owned shares:





 Ministry of economic development and investments of the Republic of Armenia



 Ministry of Finance of the RA



 Ministry of Foreign Affairs of the RA



 Ministry of Agriculture of the RA



 Ministry of energy infrastructures and natural resources of the Republic of Armenia


Where is EIA office located?

You can contact us at the address shown below.

Armenia, 0010, Yerevan, Mher Mkrtchyan St., 5 Building, 9th Floor, Rooms 926-930