ECGC claim

Hi Friends……..

Help me on this query….


An exporter, has taken a coverage from ECGC for an overseas buyer. While seeking the coverage, limit of 20 lacs was applied. But the limit of 10 lacs was approved by the corporation.

Due to oversight, (or we can say, due to earlier experiences of getting the applied coverage, without going through the limit letter)  the client regularly paid the premium for 20 lacs cover for every consignment and the corporation accepted the same and duly issued the reciepts. After some times the overseas buyer was declared bankrupt.

At that time a sum of 22 lacs was to be received. (Being value of last consignment). The client lodged the claim for 20 lacs but at that time, ECGC came up with the argument that coverage was for 10 lacs only. And they paid claim for 9.25 lacs.

Now the query is:
1. Is ECGC correct, in accepting  premium on 20 lacs and settling claim on 10 lacs. 
2. What should the client do to get more amount as claim?
3. Was not the responsibility of the corp. To inform that the client is paying excess premium regularly on the said buyer?

Thanks in Advance...