1. Focus of Protection: Credit Insurance:Â Primarily protects against non-payment due to customer insolvency, protracted default, or political risks. It’s a safety net if your customer can’t pay. Factoring:Â Focuses on improving cash flow. You sell your invoices to a factoring company at a ...
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Credit insurance, and particularly trade credit insurance, covers losses stemming from two major categories of risk: 1. Commercial Risks Insolvency of the buyer:Â This is the core protection. If your customer files for bankruptcy and is unable to pay their debts, credit insurance ...
Credit insurance, specifically designed for business-to-business transactions (also known as trade credit insurance), protects businesses in several key ways: 1. Protection against non-payment: Customer Insolvency:Â If one of your customers goes bankrupt and can’t pay their outstanding invoices, credit insurance helps cover a ...
What is credit insurance? Credit insurance is a type of insurance that protects lenders or businesses from financial losses when a borrower cannot repay their debt. It acts as a safety net in case of events like: Death:Â The insurance covers the remaining ...
Flood insurance is a specific type of insurance policy that protects your home, belongings, or business from financial losses caused by flooding. Standard homeowners and business property insurance policies usually do not cover flood damage. What is a flood? For insurance purposes, ...
While insurance packages for businesses can be customized, here’s a breakdown of the core types of insurance typically included in a business policy: Commonly Included Coverages: General Liability Insurance: The cornerstone of most business insurance packages. Protects against these lawsuits: Customer injuries on ...
Business insurance refers to a suite of insurance policies designed to protect businesses from various financial risks and liabilities they may face. Here’s a breakdown of what it is and why it’s important: Types of Business Insurance General Liability Insurance: Protects against claims ...
Here’s a breakdown of how property insurance and homeowners insurance differ: Scope: Property Insurance:Â A wide umbrella term covering various policies that protect physical assets (buildings, belongings, equipment). It includes homeowners, commercial property, renters, and other niche types of insurance. Homeowners Insurance:Â A specific type ...
Property insurance is a broad category of insurance that provides financial protection for physical property and assets. It covers losses or damages resulting from various events (often called “perils”) like fire, theft, storms, and more. Here’s a breakdown of its ...
Professional liability insurance is essential for anyone who provides professional advice, services, or designs for a fee. Here’s a breakdown of who typically needs this type of protection: Core Professions: Healthcare:Â Doctors, surgeons, nurses, dentists, therapists, chiropractors, etc. Legal:Â Lawyers, attorneys, paralegals Financial:Â Accountants, tax advisors, financial ...