Credit Insurance
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Credit Insurance
– Policy Cover / Not Covered
– Why Credit Insurance
– Specific Guidelines for Credit Insurance In India – IRDA
– Credit Insurance In Practice – Timetable -
Processes
– Buyer Risk Assessment
– Risk Underwriting & Buyer Credit Limit
– Online Access and Credit Limit Decision in a Click
– Obligation of the Insured - Pricing
- Retained Risk and Deductibles
- Claim Process
What Policy Covers?
Non payment of the buyer when selling on credit terms due to:
- Commercial Risk :
- Protracted Default – Delayed payments
- Insolvency of Buyers
- Political Risks Covers non payment due to
- Moratorium
- Transfer Restriction / Inconvertibility
- War
- Import/ Export Restriction
- Natural Disaster
- License Cancellation
Specific Guidelines for Credit Insurance In India
- Whole Turnover policy only allowed
- Cover a particular Segment/ Product / Country on Whole turnover basis
- Indemnity Level 85% only
- Assignment of proceeds of a claim under a trade credit policy may be made to a Bank/NBFC registered with RBI
