By Miran Jus
This monograph is essentially orientated, offering a survey and clarification of credits coverage companies for cover of temporary exchange receivables basically opposed to advertisement probability of insolvency and persistent default. the subject material (i.e., major services, beneficial properties and rules of credits coverage with particular description of credits insurance, assurance stipulations, and credits insurance plans administration) follows procedural phases and offers advertisement, monetary, criminal, and sensible issues of view which emphasize the desires of either the services of those providers and their consumers - current and power credits insured businesses - besides as other practitioners.
- Explains how credits coverage has replaced from an esoteric form of estate coverage right into a versatile and often used credits probability mitigation device used on an international basis
- Compares credits coverage with self-insurance and an identical substitutes
- Describes the categories of assurance to be had and the way to procure and deal with credits coverage policies
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Additional info for Credit Insurance
On the other hand, risk premiums that are included in the borrowing costs mean that for the uninsured companies and their business operations higher interest rates, or a discount at invoice discounting, are charged; their interest rates may be so high that they endanger the competitiveness of the enterprises. The acquisition of working capital, required for financing of business, is made easier with credit insurance policies because they allow companies easier access to financial sources. Credit insurance improves the credit rating of a company.
For the above reasons, the contracting sanctions foreseen for not performing the reporting duty are understandable and stringent necessity, but are rarely seen in general insurance conditions of other types of property insurance. An insurance contract provides a company indirect access to information on buyers, their financials and companies’ specific behavior on payments of their debts, which is disclosed to insurers also by other clients. The most important information assessed by the insurance company is the data about latest available financials, insolvency procedures, payment discipline of the buyers, recorded payment delays or defaults, information on business habits and problems the companies are confronting on a particular market or within a particular industry branch, etc.
35 financial operations taking place in a particular country and certain period of time. A country-risk assessment is not always very reliable prediction of future situation and trends, but nevertheless, country-risk reports provide companies and financial institutions with useful information on their business environment. Reliability of assessment not only depends on quality and accuracy of information, but also on timely horizon of forecasts, different quantitative and qualitative methods and their combinations, and number and importance of utilized indicators.
Credit Insurance by Miran Jus