Basic Facts About Credit Insurance Policies

Basic Facts About Credit Insurance Policies

TYPES OF CREDIT INSURANCE POLICIES

Multi-Buyer Policy – Coverage is provided for multiple customers with the optional formats of:

  1. Whole Turnover – Includes all the company’s customers. Structure can include special limit for the smaller customers
  2. Key / Select Accounts – lists a group of specifically named customers.

Single Buyer Policy – Coverage is provided for a single, larger customer.

TYPES OF CREDIT INSURANCE COVERAGES 

Commercial Risk Policy – provides protection against Bankruptcy and Slow-Pay. This type policy is used mostly to cover US domestic customers

Political Risk Only Policy – designed for customers worldwide outside the US. Coverage is limited to non-payment losses due to adverse political conditions in the country where the customer is located

Comprehensive Policy – includes the Commercial as well as the Political Risk protection for customers in the US and Worldwide.   This type policy is used for a global program, where customers are located both in the US and overseas.