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Credit Insurance is an instrument which protects the Companies against the risk of non payment of accounts receivable, both in the National and International Markets, due to declared insolvency (bankruptcy, suspension of payments concerning creditors, or other similar situations), or for non payment of credits for more than 6 months.
It is possible to cover inter company short term credit invoices for assets or services.
Credit Insurance Policy covers:
- The necessity of risk prevention and selection.
- Follow up portfolio of debtors.
- Indemnity for unpaid credits.
- Collection services.
What are the Policy’s complementary services?
Evaluation and Individual selection of risks: InSur evaluates the Insured’s credit portfolio and provides counseling regarding definition of credit limits to clients during the entire policy period.
Portfolio follow up: InSur will provide notification in case of any situation that it presumes or anticipates will signify payment problems.
Collection in case of loss: InSur will take charge of prejudicial and judicial collection measures and costs incurred anywhere in the world, where there are clients of the insured covered by a Policy.
Participating Parties
Debtor Client/Subject to Risk: is the individual who the Company evaluates and who must comply with obligations contracted with the insured.
Insured/Beneficiary/Applicant: the policy purchaser that pays the premium and will be indemnified in case of loss.
Insurer: InSur, the insurance company that issues the policy.
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