Insurance Solutions For Traders in Goods

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What It covers
  1. Covers the post-delivery nonpayment risk, buyer default risk, buyer bankruptcy/insolvency risk on both international and/or domestic receivables from sales of goods to single or multiple buyers under open account
  2. Cover for unconfirmed LCs against the non-payment of the issuing bank
  3. Cover also repudiation and breach of contract risks
  4. Cover political risks including currency conversion and currency transfer restrictions, government imposed import/export embargos, government imposed license cancelations and nationalization acts.
  5. Covers the buyer’s advance payment risks in cases of repudiation and breach of contract by the supplier
  6. Can be designed as a ground-up, top-up and/or excess of loss (EOL)
  7. Buyer credit limits can be approved subject to pre-agreed credit opinions/reports
  8. Premium can be based on the expected annual turnover
  9. Policies cover both commercial and political risks up to 95%.
  10. Discretionary credit limits available, allowing the seller to ship to buyers up to pre-approved limits without seeking prior approval
  11. Subject to approval, policy proceeds (claim payments) may be assigned to a financial institution to arrange receivables financing or to add insured accounts receivable to the borrowing base
  12. Payment terms up to 365 days can be covered under whole-turnover policies.
  13. Payment terms up to five years can be covered under single contracts