Business Risks and Insurance Like personal risks, Insurance can also help out in covering various business risks faced by MSMEs, Retail and Wholesale Shops, and other similar enterprises. Risks faced by business enterprises Risks from natural calamities: The enterprise/MSME can be destroyed by an earthquake,it could be affected by floods and a fire can destroy the premise of enterprise. Though Owners/entrepreneursare all along exposed to such risks which can ruin them completely, theentrepreneurs can do practically nothing about these as all these are events beyond their control. Such risks are always there buttheir occurrence would be unexpected or accidental; and if the event happens, the loss canbe defined and measured.Insurance can take care of such risks that are chance events beyond human control. Export Credit Insurance by ECGC Export credit insurance (ECI) protects an exporter of products and services against the risk of non-payment by a foreign buyer. In other words, ECI significantly reduces the payment risks associated with doing business internationally by giving the exporter conditional assurance that payment will be made if the foreign buyer is unable to pay. Simply put, exporters can protect their foreign receivables against a variety of risks that could result in non-payment by foreign buyers. It generally covers commercial risks and certain political risks that could result in non-payment. ECI also covers currency inconvertibility, expropriation, and changes in import or export regulations. ECI is offered either on a single-buyer basis or on a portfolio multi-buyer basis for short-term (up to one year) and medium-term (one to five years) repayment periods. Trade Credit Insurance Trade credit insurance protects businesses against the risk of non-payment for goods and services by buyers. It usually covers a portfolio of buyers and indemnifies an agreed percentage of an invoice or invoices that remain unpaid as a result of protracted default, insolvency / bankruptcy. It covers Commercial risks (insolvency or protracted default etc) and Political risks (operation of law, occurrence of war etc). Cyber Insurance Cyber Insurance is designed to guard businesses from the potential effects of cyber-attacks. It helps an organisation mitigate risk exposure by offsetting costs, after a cyber-attack/breach has happened. It covers business interruption losses, Data restoration costs, consultant services covers like forensic expert analysis etc."