Assignment text
GIEK has had its assignments expanded through an award letter to offer short term credit insurance for market failure for non-marketable countries. All countries have been defined as non-marketable by ESA (April) in light of Covid-19. In June 2020 a new addition was added to the award letter in accordance with the Norwegian Parliament's decision to establish a temporary guarantee scheme for reinsurance. The EU Commission has extended the redefinition of marketable countries to non-marketable to 30.06.2021, a further extension can occur. There is also reason to believe that the temporary reinsurance scheme will be extended, and that ESA will follow the EU Commission's decisions. Consideration has been given to outsourcing the work. GIEK will handle both its direct and reinsurance offer for short term credit insurance internally, and needs a business system to handle this.