CREDIT INSURANCE PLANS FOR JAPANESE GREEN TECHNOLOGY

The Japanese authorities want to use insurance to encourage the use of Japanese environmental technologies overseas. According to the Japanese news agency Jiji Press, a government panel has called for the state-backed Nippon Export and Investment Insurance to support the exports of solar power, nuclear energy and power-saving technologies. It said the proposed programme would protect insureds from losses due to war, unexpected foreign exchange trading restrictions and other contingencies in the countries of their trading partners. Coverage would be higher than the maximum 97.5% offered under existing Japanese trade insurance programmes, although premiums would be set at the same levels as those of existing programs, since lower premiums could be seen as export subsidies, according to Jiji Press.