There are four main types of credit insurance: credit life insurance, which pays off all or some of your loan if you die. Credit disability insurance, also known as accident and health insurance, which makes payments on the loan if you become ill or injured and are unable to work. Involuntary unemployment insurance, also known as involuntary loss of income, which makes a persons loan payments if they lose their job due to no fault on their part, such as being laid off. The fourth is credit property insurance, which is instrumental in protecting personal property used to secure the loan if destroyed by events like theft, accident, or natural disasters. Before deciding to buy credit insurance from a lender, you must consider your needs, options and the rates you will be required to pay.
Atradius insurance company, with more than 80 years experience, was originally founded as NCM in the Netherlands in 1925. The company was created with the goal of improving trade for companies in the Netherlands, and this business plan was cemented in 1932, when NCM partnered with the Dutch government to provide export credit services to Dutch companies on behalf of the Dutch State. To this day, this relationship with atradius Dutch State Business still exists. With a presence in 42 countries, the Atradius group offers trade credit insurance, surety and collections services worldwide. The aim of the company’s products and services is to reduce its customers’ exposure to buyers who fail to pay for the products and services they purchase. With 160 offices, Atradius has access to credit information on 52 million companies worldwide and makes more than 22,000 trade credit limit decisions daily. With a world wide market share of 31% their product offering is truly global.