Download A Guide to Trade Credit Insurance by The International Credit Insurance & Surety Association PDF
By The International Credit Insurance & Surety Association
‘A consultant to exchange credits coverage’ is a reference e-book on alternate credits coverage, written from a global standpoint. it's a compilation of contributions from a variety of authors and reviewers drawn from ICISA member businesses. The booklet presents an outline of the full technique relating to exchange credits assurance, together with the heritage of alternate credits assurance, exchange credits assurance companies, the underwriting method, top class calculation, claims dealing with, case reports and a thesaurus of terminology.
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Extra info for A Guide to Trade Credit Insurance
Expansion into new international markets. • Better financing terms – In many cases a bank will lend more capital against insured receivables and may also reduce the cost of funds. • Reduce bad-debt reserves – This frees up cash for the company. Also, trade credit insurance premiums are tax deductible, but bad debt reserves are not. • Indemnification from buyer non-payment. The process of insuring accounts receivable involves understanding a company’s trade sector, risk philosophy, business strategy, financial health, funding requirements and internal credit management expertise.
Allocation of recoveries Some insurers apply special conditions for the allocation of recoveries in case of pre-credit risk insurance. In case of a credit loss as well as a pre-credit loss the received recoveries are allocated with priority to the outstanding debts/invoices. A possible residual amount of recoveries will be allocated to the insured costs. Advantages for the insured The inclusion of pre-credit risk cover offers many advantages to the insured. It is an extension of cover which makes the policy more attractive as collateral, as when the policy claim indemnification Risk Types 33 has been assigned to a bank that has financed the insured’s credit transactions.
Advantages for the insured The inclusion of pre-credit risk cover offers many advantages to the insured. It is an extension of cover which makes the policy more attractive as collateral, as when the policy claim indemnification Risk Types 33 has been assigned to a bank that has financed the insured’s credit transactions. Because the insurance cover starts earlier than delivery, there is an earlier signal of imminent losses. The insured as well as the insurer have a mutual obligation to be alert in case of a deterioration of the buyer’s creditworthiness before delivery.