Absolutely! Credit insurance policies can often be tailored to provide additional coverage or address specific needs and situations. Here are some common ways to customize coverage: Top-Up Coverage: Increase Buyer Limits: If you secure a contract with a high-value buyer exceeding your ...

Yes, there are coverage options within the realm of credit insurance (and additional insurance products) that can protect your business against losses caused by natural disasters or other unforeseen events. Here’s a breakdown: Credit Insurance – Political Risk Export Credit Insurance: Often ...

While traditional credit insurance primarily focuses on non-payment for goods or services already delivered, here’s what you need to know about protection against project or contract cancellation: Limited Coverage in Standard Policies: Project Cancellation: Most credit insurance policies do not directly cover ...

The coverage of losses from currency fluctuations in credit insurance depends on the specific policy and insurer. Here’s a breakdown of possible scenarios: Indirect Coverage: Standard Policies: Most commonly, credit insurance offers indirect protection against currency fluctuations. If the buyer becomes insolvent ...

Typically, non-payment solely due to commercial disputes between you and the buyer is NOT covered by standard credit insurance. Let’s understand why: Focus of Credit Insurance: Credit insurance primarily protects against unforeseen risks of non-payment like insolvency or protracted default. Commercial disputes fall ...

Here’s a comprehensive guide to choosing the right credit insurance provider for your business: Assess Your Business Needs: Risk Profile: Analyze your industry risks, customer base creditworthiness, and geographic scope of sales. Coverage Requirements: Determine the types of coverage you need (domestic vs. ...

Yes, absolutely! Credit insurance can positively influence the financing terms your company is able to obtain. Here’s how: Lenders’ Perspective: Reduced Risk: Lenders favor businesses with lower risk profiles. Credit insurance demonstrates proactive risk management and protects your accounts receivables, a significant ...

Here’s how credit insurance can impact different aspects of your company’s financial statements: Balance Sheet: Accounts Receivable: Reduced Bad Debt Allowance: With credit insurance, you can lower your allowance for bad debts, as your risk of losses from unpaid invoices is reduced. This ...

Here’s a breakdown of how claim payouts are typically calculated in credit insurance policies: Covered Loss: The starting point is the outstanding amount of the unpaid invoice (or invoices) relating to the insured event (insolvency, protracted default, etc.). Deductible: Your deductible is subtracted from ...

Unfortunately, there’s no single universal timeline for processing credit insurance claims. The time it takes can vary depending on several factors: Factors Influencing Claim Processing Time: Complexity of the Claim: Straightforward insolvency cases with clear documentation might be processed quickly. Claims involving protracted defaults ...