The ICISA INSIDER

Newsletter of the International Credit Insurance & Surety Association (ICISA)

Content Foreword

COLUMN

4 | Non-Traditional credit (re-) insurance - exploring the path ahead

Column by Sascha Dear ICISA UPDATES

7 | Update from Committee Chairs

12 | ICISA Members elected a new President

Interview with Benoît des Cressonnières

INSIGHTS

16 | The dark arts of commodities: Assessing risks and claims in trade credit insurance

Insight by Baldev Bhinder

INTERVIEW

19 | AIG Joins ICISA

Interview with Corine Troncy

20 | Member in the spotlight: COSEC

Interview with Vassili Christidis

Announcements

Disclaimer

All articles in the ICISA Insider represent solely the opinions of the individual authors, not ICISA, unless otherwise stated. Original articles appearing in the Insider may not be reprinted without the express permission of the author and ICISA. When citing articles, please refer to the title of the article, the author, and the relevant edition of the Insider, including a full url to the article page.

Dear Reader,

Welcome to this Summer Edition of the ICISA Insider!

It’s only a short few weeks since ICISA hosted its second AGM Week. This time we decamped to the beating heart of European institutions in Brussels. Lots of interesting and important topics were discussed throughout the week and you can read the summaries prepared by our Committee Chairs later in the Insider.

During the week spent in Brussels, ICISA changed it’s presidential team after completion of the successful presidency of Kay Scholz, with Benoît des Cressonnières and Jan Mueller being elected as President and Vice-President, respectively. They are sure to put their indelible mark on the association and provide strong leadership to the industry in the coming years. To this end, we asked Benoît what his main objectives are now that he has received his mandate from members. You can read his views on page 12.

Since the beginning of this year, three new members joined our association: AIG, Peak Re and Active Re. It is always pleasing when insurers and reinsurers in our industry see the added value that membership of ICISA brings. At the same time, we hope to continue building a strong community across our membership, wherever they are based throughout the world. This is why we’re keen to give a voice to the newest additions to that community, and you can go to page 19 to read an interview with Corine Troncy from AIG.

Still looking at our members, we included in this edition an interview with Vassili Christidis from COSEC. COSEC has long been the leading player in the Portuguese market and joined ICISA some decades ago. In this article you can read more about what it meant to them being part of ICISA, and what the future holds for them.

While living in a permanently changing world, it is important to be flexible and come up with innovative solutions. In the featured column of this edition (page 4), Sascha Dear of R+V Re talks about the expansion of non-traditional insurance and what some challenges are for insurers. Also in this Insider you will find an article about assessing risks and claims in Trade Credit Insurance industry, written by Baldev Bhinder (page 16).

While the previous six months were busy at our Secretariat, we remain energised after seeing the enthusiasm of our members last month. We’re looking forward even more now to the rest of 2023 (and summer holidays in between of course)! We have Trade Credit Insurance Week ahead of us starting on 2 October, which should not be missed! We strive to once again bring together the significant and relevant to all, members and non-members alike.

We hope you’ll enjoy this edition as much as we enjoyed putting it together.

Happy reading!

Richard Wulff