Credit insurance

What is credit insurance and what risks are covered?

The risk of being unable to collect receivables is a common business problem. Whether you offer products or services, sooner or later you are faced with a situation where it will not be possible to realize your claims.

Claims insurance is tailored for all legal entities that perform the role of suppliers of certain goods and services, and who want to protect themselves from the inability to collect claims, whether working with domestic or foreign customers.

The risks covered are:

  • bankruptcy of the buyer,
  • delayed delay – when the buyer fails to make payment 180 days after the due date of the invoice.

What is covered by an insured credit?

An insured credit consists of the amount owed by the buyer to the insured, the defaulted acquisition costs, and the costs paid by the insured: when attempting to collect insurance benefits, recovering goods, or attempting to sell the returned goods.

What is not covered by an insured credit?

The insured credit does not include interest or additional costs for late payment, losses caused by damage and riots, incidents related to nuclear or radioactive materials, debt that would be covered by other insurance if the policy was not concluded, damage caused by delaying or prohibiting the transfer of funds to a foreign country , damage caused by a claim that is not permitted by law, payment for goods in advance, contractual or judicial penalties and similar costs.