Chemical industry companies accounted for the largest share of overall export insurance policies sold by Eximbank in the first half of the year, with an insured value of 12.7 million dollars, twice as high as in 2005. The total number of companies that signed export insurance policies in the first six months of 2007 stood at 87, down from 177 in 2005. The insurance policies cover the risk of defaulting on a loan that an exporter granted to a foreign buyer, for reasons pertaining to the foreign buyer or their state laws. Taking into account the demand of exporters, the main insurance offered by Eximbank is coverage for short-term default risk for foreign payments. The insurance policies in this regard are signed for one year. The percentage covered is 85% of the value of the calculated credit cap, in the case of a global insurance policy or of an export insured when only one export operation is insured.