NCM Credit Insurance, the British export credit insurer, has launched a new policy for Irish companies covering both commercial and political risks worldwide.

The company says the introduction of the policy will result in insuring more than £1.6 billion of Irish exports during 1998.

Irish companies who already have this cover normally obtain it through brokers in London, NCM says.

The President of the Irish Exporters Association, Mr Patrick Murphy, said the political risk element of the new policy is particularly welcome "since that type of coverage has in the past, been difficult to obtain".

NCM Credit Insurance has its headquarters in Cardiff and its Irish office is based in Belfast. Its business in Ireland is sourced through specialist credit insurance brokers.