IE Singapore launches Political Risk Insurance Scheme
IE Singapore launched its Political Risk Insurance Scheme (Pris) this morning, to help protect Singapore-based companies protect their interest overseas.
The Pris is part of the trade agency's efforts to address the concerns of local companies about political instability in overseas markets as they internationalise.
Up to 50 per cent of the premium for a company's political risk insurance policy will be funded under Pris. Mr Teo Eng Cheong, chief executive of IE Singapore, said: "Political risk insurance is an important tool to manage risks, and build your company's capabilities and confidence as you move into new markets."
In the next three years, up to $2 billion worth of overseas investments by Singapore companies could be insured under this scheme.