Export credit insurance is a financial product that protects businesses against the risk of non-payment by foreign buyers. When companies sell goods or services internationally, they may face challenges such as political instability or economic issues in the buyer's country. This insurance helps mitigate those risks by providing coverage for losses due to buyer default. By obtaining export credit insurance, businesses can confidently expand their markets and pursue international sales. This insurance not only safeguards their revenue but also enhances their ability to secure financing, as lenders often view insured exports as lower-risk investments.