Resultantly, many countries have been shuffled from group one to other with most of the countries getting upgraded in this process. However, a few countries, which were over rated earlier, have found a lower place in the new classification. With the introduction of seven-foldclassification, a need arose to recast premium rates in the new grouping under the corporation's policies. Accordingly, premium rates have been re-worked for the seven such groups within the existing minimum and maximum limits. The corporation has, however, not increased its premium rates across the board. Changes in rates have taken place owing to re-classification of countries. In fact, the revised classification has resulted into reduction in effective premium for most of the countries.

NCB rates hiked

ECGC has increased "no claim bonus" under its standard policy with effect from April 1. The new rates will be applicable to those policies which are renewed on or after this date. No claim bonus' (NCB) under ECGC's policies is given to those policy holders who have been with the corporation for a minimum of two years and have not lodged any claim. The NCB is given in form of reduction in premium rates applicable to standard policies. Hitherto, the highest NCB rate was 30 per cent discount to thesepremia which were available to those exporters who regularly held standard policy for twelve years without having received any claim.