British export credit insurance

Since 1919 the United Kingdom has been experimenting with credit insurance. Undertaken as a scheme of cash advances to promote trade in the devasted countries of Europe in order to reclaim markets and to relieve unemployment, British expot credit insurance has passed throught several phases of development in 1912, 1926 and 1930. Each revision of the Act has tended to streigthen the plan by the application of business practices based on banking and insurance principles. Its management is esnstrusted to a small commitee of four with powers analogous to those of a board of directors, which is advised by a committee of expert in banking, insurance, commerce and industry. Since the Act of 1934 extendend to 1940, the period within which new guarantees will be given, and to 1950, the period durign which guarntees may remain in force, it would seem as if the UK had definetly incorporated this techinque as a means of facilitating British export trade by sharing the risk in her foreign commercial policy.