Quick answer
A UK Export Finance insurance product, not a grant. EXIP covers a UK exporter against the risk of non-payment on a specific export contract when the private credit insurance market will not. Useful when you have a real signed (or near-signed) export contract to a buyer or country private insurers refuse to cover, and losing the contract because you cannot get cover would be material. Not a working-capital tool and not appropriate for routine, low-risk export trade.
Advisor summary
Export Insurance Policy is a other. UKEF insurance that covers UK exporters against the risk of not being paid under an export contract due to political or commercial events. Based on the published criteria, Export Insurance Policy is most relevant to any businesses; organisations working in Manufacturing, Technology & Software, Life Sciences, Creative Industries; applicants based in United Kingdom. It typically supports activities aligned with Export & International Trade — applications that demonstrate a clear, evidenced link to one of these objectives tend to score better against the published assessment framework. Eligibility focus: UK-registered exporters with a specific export contract. Subject to UKEF underwriting and country cover. Before applying, confirm the scheme is currently open on the official source page — funding amounts, deadlines and round-by-round priorities for Export Insurance Policy can change between calls.
Key takeaways
- Funding type: other.
- Target stage: any.
- Geographic coverage: United Kingdom.
- Aligned to objectives such as Export & International Trade.
- Industry relevance: Manufacturing, Technology & Software, Life Sciences, Creative Industries.
- Always validate live eligibility and timing on the official source before applying.
Who this is for
Export Insurance Policy is most relevant to: - any businesses that match the published stage definition - organisations operating in Manufacturing, Technology & Software, Life Sciences, Creative Industries - applicants based in United Kingdom - teams whose planned activity advances Export & International Trade - organisations that can evidence eligibility, deliverability and value-for-money against the scheme's published criteria Use the eligibility section above to validate fit before applying.
Real-world use cases
- Export & International Trade projects seeking other support consistent with the published scope of Export Insurance Policy.
- Manufacturing businesses where the planned activity matches the eligible activity list and can be delivered within the scheme's reporting window.
- Technology & Software businesses where the planned activity matches the eligible activity list and can be delivered within the scheme's reporting window.
- Projects delivered in United Kingdom where the applicant is registered and trading in the eligible geography.
What to prepare
- Read the official guidance end-to-end and note every mandatory criterion.
- Confirm the current round is open and check the live deadline on the official source.
- Pull recent management accounts and statutory financials covering the requested period.
- Draft a clear project description: problem, approach, milestones, outputs.
- Prepare a defensible budget that ties each cost line to a project milestone.
- Identify and brief any partners, suppliers or supporting referees in advance.
- Leave time for internal review and sign-off before submission.
- Capture the assumptions behind any quantitative claims (jobs created, emissions saved, additional R&D spend) so they can be defended at assessment.
Common mistakes
- Treating the application as a marketing exercise rather than evidencing eligibility against the published criteria.
- Submitting without independently verifying the live deadline and current call status on the official source page.
- Underestimating the time required to gather match-funding evidence and supporting letters.
- Vague project descriptions that fail to spell out outputs, milestones and a credible delivery plan.
- Weak budget breakdowns that mix capital and revenue costs without justification.
- Failing to make the connection to Export & International Trade explicit — assessors should not have to infer how Export Insurance Policy fits the project.
Why applications get rejected
- Project falls outside the published scope, theme or eligible activities.
- Applicant organisation type or location is not eligible under the call.
- Insufficient evidence of match funding or co-investment where required.
- Project plan, milestones or budget lack the detail assessors need to score against the criteria.
- Limited evidence of impact, additionality or value for money.
- Applicant or project location does not satisfy the geographic eligibility for Export Insurance Policy (United Kingdom).
Alternative funding routes
- Consider related other routes such as Eureka Eurostars, Eureka Eurostars (UK), Export Development Guarantee — see the Related grants section for direct links.
- Use side-by-side comparisons such as UKEF Export Insurance Policy vs Other Export Finance Routes and UKEF Direct Lending vs Bank-led Export Finance to weigh Export Insurance Policy against the closest alternatives before committing.
- The decision guides Which export route should I use first? and What funding is realistic for first-time UK exporters? walk through the trade-offs in plain English.
- Schemes targeting Export & International Trade from other providers may offer complementary or fallback coverage if Export Insurance Policy is not a fit this round.
- Look across funding types — grants, loans, equity and tax reliefs often combine for larger projects.
Typical funding journey
- 1Discovery — confirm the scheme is open and you fit the published scope.
- 2Eligibility check — work through the criteria honestly and gather evidence of fit.
- 3Scoping — define the project, outputs, milestones and a defensible budget.
- 4Documentation — assemble financials, letters of support and any required quotes.
- 5Submission — complete the official application form against the assessor criteria.
- 6Assessment — respond promptly to clarification requests during review.
- 7Decision and grant agreement — accept the offer and meet pre-payment conditions.
Frequently asked questions
Who is eligible to apply for Export Insurance Policy?
Export Insurance Policy is aimed at businesses across most stages. It is available to applicants in United Kingdom. Industry focus areas include Manufacturing, Technology & Software, Life Sciences, Creative Industries, Retail & Hospitality. Always confirm the live eligibility criteria on the official source page before applying — eligibility rules can change between rounds.
What does Export Insurance Policy fund?
As a funding scheme, Export Insurance Policy typically supports activities consistent with its published objectives (Export & International Trade). Specific eligible costs and project types are defined in the scheme's published guidance — review the official source page for the current list.
How competitive is Export Insurance Policy?
Published competitiveness figures vary by round and are not always disclosed. Treat any scheme with limited published cost as competitive: prepare as if you were one of many strong applicants, and lean on the assessment criteria when building your application.
What preparation is needed before applying to Export Insurance Policy?
Start by reading the official guidance end-to-end and mapping your project against each assessment criterion. Pull together core supporting evidence early — typically organisation details, recent financials, a clear project description, milestones and a budget. Leave time for internal review and, where relevant, partner or advisor sign-off before submission.
What documents are usually required for Export Insurance Policy?
Most schemes ask for organisation details, recent financial information, a project description with milestones, and a budget breakdown. Always check the official source page for the definitive document list for the current round.
What alternatives exist if Export Insurance Policy is not a fit?
The Alternative Routes section above lists related funding paths. As a general rule, look for schemes targeting the same objective or stage from different providers, and consider blending sources (for example combining a grant with a loan or equity) where the project size warrants it.
How do you apply for Export Insurance Policy?
Application routing is set out on the official source page linked above — confirm the current round is open before starting an application.
When should you start preparing for Export Insurance Policy?
Treat preparation as a multi-week process for most schemes. Begin gathering financials, project documentation and supporting evidence as soon as you decide to apply — leaving preparation to the final week typically shows in the quality of the application.
What happens after you apply to Export Insurance Policy?
Applications are typically logged, screened for eligibility, then assessed against the published criteria. Be ready to respond quickly to clarification requests during review, and keep contact details up to date so decision notifications are not missed.
Can Export Insurance Policy be combined with other funding or support?
Most schemes can be combined with other support, but disclosure rules and subsidy limits often apply. Read the scheme's published rules on combined funding before committing — the answer changes case-by-case.
What should applicants do before applying to Export Insurance Policy?
Validate that Export Insurance Policy is genuinely the best fit — the Alternative Routes section above lists other options worth comparing first. Re-read the official guidance and map your project, organisation and budget to each scoring criterion. Walk through the Eligibility section line by line and gather evidence for every requirement. Speak to anyone in your network who has been through this scheme recently — round-by-round priorities and assessor focus shift.
What makes a strong application to Export Insurance Policy?
Strong Export Insurance Policy applications evidence fit against every published criterion rather than restating the project's ambition. Use concrete numbers, dated milestones and named partners wherever possible — assessors reward specificity. Make the link to Export & International Trade explicit; do not leave assessors to infer it.
When might another funding route be more suitable than Export Insurance Policy?
If the published scope, timing or eligibility rules do not match cleanly, check the Pathways section for routes designed around your objective. See the Alternative Routes section above for specific suggestions.
What happens after Export Insurance Policy is awarded?
Funded organisations typically sign a grant or facility agreement that sets out drawdown conditions, reporting cadence and any claw-back triggers. Plan for periodic progress reports, evidence of spend and — for larger awards — independent monitoring or audit.
How should organisations prepare supporting evidence for Export Insurance Policy?
Gather evidence in the order assessors will read it: organisation legitimacy first, then eligibility, then project fit, then budget and impact. Even where a document list is not published, prepare financials, a project plan with milestones, and budget evidence as a baseline. Where claims are quantitative (job creation, emissions reduction, additional R&D spend), document the assumption behind each number.
Read end-to-end by a FundingAtlas editor against the official source.
Funding amount
Varies
Region
United Kingdom
Stage
Any stage
Provider
UK Export Finance
Advisor summary
Export Insurance Policy is a other. UKEF insurance that covers UK exporters against the risk of not being paid under an export contract due to political or commercial events. Based on the published criteria, Export Insurance Policy is most relevant to any businesses; organisations working in Manufacturing, Technology & Software, Life Sciences, Creative Industries; applicants based in United Kingdom. It typically supports activities aligned with Export & International Trade — applications that demonstrate a clear, evidenced link to one of these objectives tend to score better against the published assessment framework. Eligibility focus: UK-registered exporters with a specific export contract. Subject to UKEF underwriting and country cover. Before applying, confirm the scheme is currently open on the official source page — funding amounts, deadlines and round-by-round priorities for Export Insurance Policy can change between calls.
Key takeaways
- Funding type: other.
- Target stage: any.
- Geographic coverage: United Kingdom.
- Aligned to objectives such as Export & International Trade.
- Industry relevance: Manufacturing, Technology & Software, Life Sciences, Creative Industries.
- Always validate live eligibility and timing on the official source before applying.
Who this is for
Export Insurance Policy is most relevant to: - any businesses that match the published stage definition - organisations operating in Manufacturing, Technology & Software, Life Sciences, Creative Industries - applicants based in United Kingdom - teams whose planned activity advances Export & International Trade - organisations that can evidence eligibility, deliverability and value-for-money against the scheme's published criteria Use the eligibility section above to validate fit before applying.
Probably not for you if…
Exporters whose buyers are easily insurable in the private market (a broker should be your first call — UKEF only steps in where the private market will not), traders selling to low-risk OECD buyers on short payment terms, businesses without a specific contract or LOI to insure, and any business pursuing markets blocked by UK sanctions or UKEF's own country cover policy.
Real-world use cases
Emerging market sale
Capital project payment terms
Pre-shipment risk
What to prepare before applying
- 1
Read the official guidance end-to-end and note every mandatory criterion.
- 2
Confirm the current round is open and check the live deadline on the official source.
- 3
Pull recent management accounts and statutory financials covering the requested period.
- 4
Draft a clear project description: problem, approach, milestones, outputs.
- 5
Prepare a defensible budget that ties each cost line to a project milestone.
- 6
Identify and brief any partners, suppliers or supporting referees in advance.
- 7
Leave time for internal review and sign-off before submission.
- 8
Capture the assumptions behind any quantitative claims (jobs created, emissions saved, additional R&D spend) so they can be defended at assessment.
Common mistakes
Treating the application as a marketing exercise rather than evidencing eligibility against the published criteria.
Submitting without independently verifying the live deadline and current call status on the official source page.
Underestimating the time required to gather match-funding evidence and supporting letters.
Vague project descriptions that fail to spell out outputs, milestones and a credible delivery plan.
Weak budget breakdowns that mix capital and revenue costs without justification.
Failing to make the connection to Export & International Trade explicit — assessors should not have to infer how Export Insurance Policy fits the project.
Common rejection reasons
Project falls outside the published scope, theme or eligible activities.
Applicant organisation type or location is not eligible under the call.
Insufficient evidence of match funding or co-investment where required.
Project plan, milestones or budget lack the detail assessors need to score against the criteria.
Limited evidence of impact, additionality or value for money.
Applicant or project location does not satisfy the geographic eligibility for Export Insurance Policy (United Kingdom).
Alternative funding routes
Consider related other routes such as Eureka Eurostars, Eureka Eurostars (UK), Export Development Guarantee — see the Related grants section for direct links.
Use side-by-side comparisons such as UKEF Export Insurance Policy vs Other Export Finance Routes and UKEF Direct Lending vs Bank-led Export Finance to weigh Export Insurance Policy against the closest alternatives before committing.
The decision guides Which export route should I use first? and What funding is realistic for first-time UK exporters? walk through the trade-offs in plain English.
Schemes targeting Export & International Trade from other providers may offer complementary or fallback coverage if Export Insurance Policy is not a fit this round.
Look across funding types — grants, loans, equity and tax reliefs often combine for larger projects.
Typical funding journey
- 1
Private market test
- 2
UKEF approach
- 3
Underwriting
- 4
Policy issued
Advisor view
**What underwriters are looking for** EXIP is reactive: UKEF underwrites the specific contract, buyer, and country in front of them. The assessment focuses on (a) why the private market declined or partially declined, (b) the credit quality of the buyer or guarantor, (c) the realism of the contract terms (credit period, currency, milestones), and (d) the exporter's ability to perform. EXIP is not a substitute for poor commercial diligence — UKEF expects you to have done buyer KYC, sanctions screening, and contract review. **Preparation before applying** Approach an EXIP-accredited broker first. Brokers handle most EXIP cases and will package the application: contract, buyer financials, payment terms, evidence of declined or partial private cover, sanctions check, and the exporter's track record. A direct UKEF approach is possible but the broker route is usually faster. **Pricing and timing** EXIP is paid for via premium, not free cover. Pricing reflects buyer risk, country, tenor, and percentage cover. For straightforward cases brokers can often turn a quote in 2–4 weeks; complex or high-risk cases take longer and may require additional information or a country exception. Allow time before contract signature, not after.
Usually too early when
Advisor signal
You do not yet have a buyer identified, the contract value or payment terms are still moving, you have not approached the private credit insurance market first, the buyer is fully insurable commercially, or the export sits in a sector or country UKEF currently does not cover. EXIP fits a specific contract — speculative pipeline cover is not what it is for.
Eligibility
UK-registered exporters with a specific export contract. Subject to UKEF underwriting and country cover.
Evidence you'll need
Export contract details, buyer information, country of destination.
Application timeline
Engage broker → broker submits buyer and contract information to UKEF → UKEF underwriting (typically 2–6 weeks; complex or high-risk cases longer) → premium quoted → premium paid and policy bound, usually before contract signature so the cover position is known when the exporter commits.
Common reasons applications fail
Apply only after the contract is signed and the buyer has already gone bad — UKEF is forward-looking cover, not retrospective. No broker engagement, leaving UKEF to triage a poorly-packaged application. No documented attempt at the private market, so UKEF cannot justify stepping in. Buyer or end-user that triggers a sanctions or UK foreign policy concern, which is a hard stop regardless of commercial merit. Contract terms (very long tenor, unusual currency, off-balance-sheet structure) that put the deal outside UKEF's normal risk appetite without a clear justification.
What improves your odds
Clear evidence the private credit insurance market has declined or only partially covered the risk (broker confirmation in writing). A creditworthy buyer or buyer-side guarantor, ideally with audited financials. Realistic payment terms in a major currency. A contract with milestone or staged delivery rather than back-loaded payment. Clean sanctions screening on buyer, end-user, and shipment route. A broker who has placed EXIP before — they know the format UKEF expects.
Typical successful applicant
A UK SME or mid-cap manufacturer or engineering services firm with a signed or near-signed export contract worth six to seven figures into a market the private insurance market treats as high risk (often emerging markets, post-conflict economies, or buyers with limited public credit data), where losing the contract for lack of cover would force the exporter to walk away.
Common misconceptions
EXIP is not a grant and not a loan — it is paid-for insurance. It does not provide working capital (that is UKEF's Export Working Capital Scheme or the General Export Facility). It does not cover disputes — only buyer default and certain political risks. It does not replace contract due diligence: UKEF will not bail out a deal that should not have been done. And EXIP cover does not automatically unlock bank financing — that is a separate conversation with a UKEF-supported lender.
What happens next
Policy is bound on payment of premium. The exporter performs the contract; if the buyer defaults under the policy terms (typically protracted default after a waiting period, or insolvency), the exporter notifies UKEF and submits a claim with supporting evidence. UKEF investigates, applies the cover percentage to the insured loss, and pays — then takes over recovery from the buyer.
What comes next
Exporters that use EXIP once often build a UKEF relationship: a successful EXIP on one contract makes a General Export Facility or Export Working Capital Scheme conversation easier, and vice versa. As the export book grows, a credit insurance broker will typically place the easier risks privately and bring only the hard cases back to UKEF — which is the intended division of labour.
Funding context
EXIP sits inside UKEF's broader exporter toolkit alongside the General Export Facility (working capital), Export Working Capital Scheme (contract-specific working capital), and Bond Support Scheme (performance bonds). EXIP is the risk-transfer tool; the others are financing tools. Many exporters end up using more than one. The private credit insurance market is the default — UKEF intentionally fills the gap above it, not below it, and brokers are the practical entry point for almost every case.
Eligibility Quick Check
A cautious, rules-based check using only the criteria already published for this programme. Not a guarantee — always verify against the official source.
Frequently asked questions
- Who is eligible to apply for Export Insurance Policy?
- Export Insurance Policy is aimed at businesses across most stages. It is available to applicants in United Kingdom. Industry focus areas include Manufacturing, Technology & Software, Life Sciences, Creative Industries, Retail & Hospitality. Always confirm the live eligibility criteria on the official source page before applying — eligibility rules can change between rounds.
- What does Export Insurance Policy fund?
- As a funding scheme, Export Insurance Policy typically supports activities consistent with its published objectives (Export & International Trade). Specific eligible costs and project types are defined in the scheme's published guidance — review the official source page for the current list.
- How competitive is Export Insurance Policy?
- Published competitiveness figures vary by round and are not always disclosed. Treat any scheme with limited published cost as competitive: prepare as if you were one of many strong applicants, and lean on the assessment criteria when building your application.
- What preparation is needed before applying to Export Insurance Policy?
- Start by reading the official guidance end-to-end and mapping your project against each assessment criterion. Pull together core supporting evidence early — typically organisation details, recent financials, a clear project description, milestones and a budget. Leave time for internal review and, where relevant, partner or advisor sign-off before submission.
- What documents are usually required for Export Insurance Policy?
- Most schemes ask for organisation details, recent financial information, a project description with milestones, and a budget breakdown. Always check the official source page for the definitive document list for the current round.
- What alternatives exist if Export Insurance Policy is not a fit?
- The Alternative Routes section above lists related funding paths. As a general rule, look for schemes targeting the same objective or stage from different providers, and consider blending sources (for example combining a grant with a loan or equity) where the project size warrants it.
- How do you apply for Export Insurance Policy?
- Application routing is set out on the official source page linked above — confirm the current round is open before starting an application.
- When should you start preparing for Export Insurance Policy?
- Treat preparation as a multi-week process for most schemes. Begin gathering financials, project documentation and supporting evidence as soon as you decide to apply — leaving preparation to the final week typically shows in the quality of the application.
- What happens after you apply to Export Insurance Policy?
- Applications are typically logged, screened for eligibility, then assessed against the published criteria. Be ready to respond quickly to clarification requests during review, and keep contact details up to date so decision notifications are not missed.
- Can Export Insurance Policy be combined with other funding or support?
- Most schemes can be combined with other support, but disclosure rules and subsidy limits often apply. Read the scheme's published rules on combined funding before committing — the answer changes case-by-case.
- What should applicants do before applying to Export Insurance Policy?
- Validate that Export Insurance Policy is genuinely the best fit — the Alternative Routes section above lists other options worth comparing first. Re-read the official guidance and map your project, organisation and budget to each scoring criterion. Walk through the Eligibility section line by line and gather evidence for every requirement. Speak to anyone in your network who has been through this scheme recently — round-by-round priorities and assessor focus shift.
- What makes a strong application to Export Insurance Policy?
- Strong Export Insurance Policy applications evidence fit against every published criterion rather than restating the project's ambition. Use concrete numbers, dated milestones and named partners wherever possible — assessors reward specificity. Make the link to Export & International Trade explicit; do not leave assessors to infer it.
- When might another funding route be more suitable than Export Insurance Policy?
- If the published scope, timing or eligibility rules do not match cleanly, check the Pathways section for routes designed around your objective. See the Alternative Routes section above for specific suggestions.
- What happens after Export Insurance Policy is awarded?
- Funded organisations typically sign a grant or facility agreement that sets out drawdown conditions, reporting cadence and any claw-back triggers. Plan for periodic progress reports, evidence of spend and — for larger awards — independent monitoring or audit.
- How should organisations prepare supporting evidence for Export Insurance Policy?
- Gather evidence in the order assessors will read it: organisation legitimacy first, then eligibility, then project fit, then budget and impact. Even where a document list is not published, prepare financials, a project plan with milestones, and budget evidence as a baseline. Where claims are quantitative (job creation, emissions reduction, additional R&D spend), document the assumption behind each number.
Related routes
Industries
Objectives
Regions