Vol. 396 No. 3
139 Mr. Connaughton asked the Minister for Industry and Commerce if a company (details supplied) applied for and received export credit insurance for products exported during 1988 and 1989; the extent of the volume and cost of product so covered; and if this facility was refused to the company on earlier applications.
The company in question applied for and received export credit insurance for products exported during 1988 and 1989. The annual level of export turnover insured under the company's policy was approximately IR£10 million in each of the years 1988 and 1989 but in neither year would maximum liability have exceeded £3.5 million at any given time. As insurance cover relates only to the value of product exported, I cannot provide information regarding actual volumes of product involved.
Insurance cover has been available to the company on a continuous basis since if first applied for it in 1983. However, since then, there have been a number of instances where, on the basis of underwriting assessments carried out by my agents, the Insurance Corporation of Ireland, plc, cover to the extent sought by the company on specific buyers was not granted.
