Credit Insurance
Credit Insurance policy is purchased by a borrower that pays off one or more existing debts in the event of an insured’s death, disability or unemployment. This policy covers market risk, bankruptcy, low bad debt and a protection against account receivables. Cross country trade disputes, sales under irrevocable and confirmed letter of credit, foreign currency fluctuation, sales to an associate company or sales contract in which payment should be received in advance are not covered under this policy. There are also some covers that can be add-ons to the original policy on additional Premium such as insolvency, protracted default or political risks.