By The International Credit Insurance & Surety Association

ISBN-10: 1783084820

ISBN-13: 9781783084821

‘A advisor to exchange credits assurance’ is a reference publication on exchange credits assurance, written from a world standpoint. it's a compilation of contributions from a variety of authors and reviewers drawn from ICISA member businesses. The publication offers an outline of the entire procedure relating to alternate credits assurance, together with the historical past of alternate credits coverage, exchange credits assurance companies, the underwriting approach, top class calculation, claims dealing with, case experiences and a thesaurus of terminology.

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Additional resources for A Guide to Trade Credit Insurance

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Chapter 3 Product Types There are various ways to categorize the trade credit insurance products (‘policies’) that credit insurance companies offer to the market. 1. Level of selection One of the ways to classify policies is according to the level of risk selection that the trade credit insurance allows. To what extent and under what conditions these product types are actually available in general or in a particular situation will depend on the individual trade credit insurer’s own offering strategy.

This means 28 A Guide to Trade Credit Insurance that when after the acceptance of an order and before delivery of the goods the government of the insured’s country does not allow the shipment of the goods to the buyer’s country (refusal of an export licence, a boycott of the buyer’s country) the pre-credit risk cover will not lead to indemnification. - Consequential losses of liabilities Every insured may decide to do business without insurance. Nevertheless, when pre-credit risks are insured, the insurer may be able to provide valuable insight to the insured, which may reduce the risk.

Does the pre-credit premium charge/ surcharge adequately address this possibility. To help handle this, the insured would often be obliged to declare the delivery separately for the charge of premium, even if the policy has expired or been cancelled. Some insurers follow the ‘risk attaching system’ with respect to orders accepted during the insurance period and resulting in delivery after expiry or cancellation of the policy. The same applies to the credit risk with respect to those orders: they remain insured.

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A Guide to Trade Credit Insurance by The International Credit Insurance & Surety Association

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