The International Credit Insurance & Surety Association (ICISA) provides a forum for the continuous exchange of ideas and information, in order to improve and develop the specialised service its members give the business world. This includes the exchange of views and experience about trading conditions and developments in particular industrial and trade sectors as well as markets, the exchange of information about credit risks and co-operation through reinsurance arrangements, particularly in export transactions.

The Association frequently acts as the member’s representative in formulating their views or concerns towards policy makers such as the EU, the Comité Européen Des Assurances, the World Bank, the UN Commission on International Trade Law (UNCITRAL), central banks and many others. In doing so, ICISA collaborates closely with kindred organisations such as the International Chamber of Commerce (ICC), the Berne Union, the Pan-American Surety Association (PASA), the Surety & Fidelity Association of America (SFAA), the International Surety Association (ISA), the Surety Information Office (SIO), the Canadian Surety Association (CSA), the Australian Surety Association (ASA) and the Surety Association of Mexico (SAM).

The Association has members located on all five continents insuring risks in practically every country in the world.

History in Brief
ICISA has its origins in 1926, when the first ever conference on credit insurance was held in London. The association was established in Paris in 1928 as the International Credit Insurance Association (ICIA). In 2001 the name was changed into the International Credit Insurance & Surety Association, to reflect the fact that more than half of its members were by then (also) involved in the underwriting of surety business. ICISA is celebrating its 80th anniversary in 2008.

From its inception until 1999, the Association was based in Switzerland, where it is still registered under Swiss Civil Code. From 1999 until 2003 the head office of the Association was based in London, where it shared its premises with the Berne Union, an export credit and investment insurance association. In July 2003 the Association moved its Secretariat to Amsterdam.

Throughout its history, the association has been managed by a Secretary or Executive Director:
Mr Noel Patrick (Honorary Secretary, 1928 - 1936);
Mr Hans Karrer (Secretary, 1936 - 1974);
Mr Robert Karrer (Secretary, 1974 - 1987);
Mr Klaus Oppenheimer (Secretary 1987-1999, Executive Director, 1999 - 2001);
Mr Robert Nijhout (Executive Director, 2001 - present).

Object and Goals
The object of the Association is to study questions relating to credit insurance and guarantee/surety, to provide opportunities for members’ employees to acquire knowledge of the theory and practice of this sector and to represent the common interests of its members. It provides a forum for the continuous exchange of ideas and information, in order to improve and develop the specialist service its members give the business community. The exchange of views and experience about trading practices and developments in trade sectors and markets are particularly important. Members exchange information about credit risks. Some members frequently co-operate with each other through reinsurance arrangements. They may also have bilateral assistance agreements for claim prevention and debt recovery support work.

The Association publishes studies that are relevant to the industry. Projects are undertaken and papers written for the benefit of its members. These include: the possible effects of the Basle II Accord on the credit and surety industry, the privatisation of short-term political risk; contract guarantees in the EU; designing a new style performance bond; finalisation of EDI message specifications for credit insurers and information providers; implications of single risk cover; the impact of catastrophic events on protracted default cover; data protection; promoting a level playing field for surety products; fronting experience; insuring factor companies; insuring lease transactions; self-insurance; pre-credit risk and regulatory effects on intermediaries. The association collaborates closely with colleague associations in the collection of relevant industry data.

Organisation and Structure
ICISA’s statutes are designed to ensure that members are the effective controlling element governing the Association. The executive is the Management Committee. For the period 2010/2011 the Management Committee consists of:

President                 Joaquín de la Herrán Mendivil (CESCE)
Vice-President         Jim Davidson (HCC International)

Member                   Atradius
Member                   CGIC           
Member                   Coface
Member                   Euler Hermes
Member                   ICIC
Member                   Partner Re

The President and Vice-President are elected by the members of the Association at the Annual General Meeting, and are appointed for one year. The President chairs the Management Committee, which is formed by the Vice-President and six elected Members.

There are six additional committees ensuring sustained close contact and regular exchange of views. These are:

-         The Credit Insurance Committee
-         The Committee of Underwriters
-         The Surety Committee
-         The Single Risk Committee
-         The Committee on Management Issues
-         The Accounting and Regulatory Committee

The committees meet regularly and are from time to time supported by special topic working groups. These focus on specific projects and studies.

The Executive Director heads the Association’s Secretariat, which is responsible for the provision of the full range of administration communication and co-ordination of services required by the Association for its dealings with the membership and the outside world. The association’s contacts with the European Union are handled out of its Brussels liaison office.