Credit Insurance protects businesses against non-payment or late payment of debts owed by customers.

Key Features

1. Trade Credit Protection: Covers debts owed by customers in the event of insolvency, bankruptcy, or protracted default.

2. Whole-Turnover Policy: Covers all business transactions with customers.

3. Specific-Account Policy: Covers specific accounts or customers.

4. Excess of Loss Policy: Covers losses exceeding a predetermined amount.

Benefits

1. Reduced Bad Debt: Minimizes bad debt and financial losses.

2. Improved Cash Flow: Enhances cash flow by reducing the risk of non-payment.

3. Increased Sales: Enables businesses to offer credit terms to customers, increasing sales potential.

4. Risk Management: Provides a safety net against unforeseen customer insolvency or default.

Who Needs Credit Insurance

1. Exporters: Businesses exporting goods or services.

2. Manufacturers: Companies selling products to customers on credit terms.

3. Wholesalers: Wholesalers offering credit terms to retailers.

4. Service Providers: Businesses providing services on credit terms.