Credit Insurance Companies

Atradius Insurance Company

admin — Sat, 04 Feb 2012 09:48:05 +0000

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.

COFACE Euler Hermes ACI

admin — Fri, 03 Feb 2012 07:06:52 +0000

When you’re not sure your clients will pay what they owe you, managing your company’s cash flow can be a difficult task. However, rather than taking a chance, consider credit insurance to help you handle your company’s cash flow. In the case of business companies, credit insurance will essentially cover the business’ entire turnover–wherever it may be trading–and will include political risks. Additionally, credit insurance will also cover a business company’s key accounts or exceptional losses. You tell the insurance company which accounts you want to cover and you pay a monthly premium based on the creditworthiness of your client and the amount of credit your company is extending to that client. Especially in this unstable economic environment, these policies, known as business credit insurance, trade insurance, bad debt insurance or accounts receivable insurance, may be a worthwhile investment.
The Euler Hermes Group provides global financial solutions for trade receivables, and is the world’s leading credit insurer with a 36% share of the market. The Euler Hermes Group assists more than 50 companies of all sizes and in every industry sector to aid them in secure business development. The company, though credit insurance, has developed a comprehensive range of services for the management of companies’ accounts receivables. With their unparalleled risk experience acquired through its coverage of 40 million businesses worldwide, Euler Hermes is able to help businesses flourish in their home market and in export markets as well. In response to specific multinational companies’ needs, Euler Hermes has developed a specific structure: Euler Hermes World Agency, which includes a dedicated central team and a network of local correspondents. With this in place, international groups benefit from one single agreement with the parent company, one single contract and a single account manager while keeping local policies directly managed by Euler Hermes offices. Combining expertise in credit insurance, pensions, investment and banking, Euler Hermes created the optimum financial solutions for your individual way of life.

SFAC Insurance Company

admin — Thu, 02 Feb 2012 15:15:41 +0000

Credit insurance contracts, primarily, provides the anticipate and prevent risks associated with business transactions and trade. Exceeding simple insurance products, credit insurance companies offer credit support to companies throughout the development of their businesses, while providing them with the means to protect the monetary flow or foresee risks involved with doing business with their buyers of customers. Credit insurance will work to maximise the recovery of any issues pertaining to receivables, while striving to maintain business relationships among companies. If there is money owed, the insurer will undertake the necessary actions that are best suited to the recovery of a company’s client, focusing on recovery times and amounts recovered. With credit insurance, business can enjoy a continuous monitoring of their customers’ financial situations, being eased from the collection of bills, optimising the recovery of their outstanding debts and maintaining their profitability.
SFAC is the French arm of the large insurance group Euler Hermes. The SFAC insurance company offers a system of risk prevention in the Single market, with over 800 billion commercial transactions secured worldwide, within a wide network of offices located in over 50 countries. The SFAC maintains a mission to help companies grow their business worldwide through secured and optimised credit management, providing companies with a wide range of trade receivables protection tools and credit management solutions, including: credit insurance, risk assessment, trade debt collection, financing of trade receivables, compensation of losses due to buyer’s insolvency, bonding, evaluating trade receivables portfolios and fidelity insurance, otherwise considered as insurance against fraud. In an economic climate where the financial crisis is hitting companies with great ferocity, SFCA and the Euler Hermes Group will ensure their customers benefit from the highest standards wherever they’re doing business.

Chubb Co Insurance Company

admin — Wed, 01 Feb 2012 08:05:45 +0000

Credit insurance coverage is available to both individuals and business organizations. This form of insurance coverage provides protection to the individual or company policy holder, in the event they are unable to pay an outstanding debt due to an incident that is covered within the terms of the policy agreement. Common factors invoking the provisions contained within a credit insurance policy include job loss, death of the insured party, or and accident that results in the disabling of the policyholder. Not only is the protection against losses provided by credit insurance beneficial to the debtor, it is also equally beneficial to the lender. Debtor will know that any debts outstanding will be settled, while lenders, rest assured that they will receive payment in full even if the debtor dies.
Chubb Group of Insurance Companies, formed in 1967 and listed on the New York Exchange in 1984, ranks among the top 11 publicity traded insurance organizations based on revenues in the United States. With thousands of employees working throughout North America, Europe, South America and the Pacific, Chubb brings its service to property and casualty customers in 120 countries in 28 countries internationally. Chubb offers more than 170 innovative, comprehensive insurance products, tailored to meet the individual needs of businesses. They offer a wide range of accident and health insurance products and construction and commercial surety bonds. For individual and non organizational customers, Chubb offers an array of property and casualty insurance products to protect the homes and possessions of individuals and families. Chubb offers innovative and scalable property and casualty insurance products supported by specialized expertise to meet the needs of their individual customers. Besides brining great insurance options to the average customer, Chubb’s great reputation is grounded in the fact that their customers extend to include many of the most affluent families in the world, CEOs of Fortune 500 companies and top art collectors.

FCIA – Great American Insurance Company

admin — Tue, 31 Jan 2012 18:04:19 +0000

Trade credit insurance, also known as business credit insurance is purchased by business entities to protect their accounts receivable from loss due to the insolvency of the debtors; this form of credit insurance, is not available to, not will it benefit, private individuals. Premiums, or the costs for this form of insurance, are usually charged monthly and are calculated as a percentage of sales of that month or as a percentage of all outstanding receivables. Credit or trade insurance, which covers the payment risks of companies, and not private individuals, requires policy holders to place a credit limit on each of their buyers, for the sales to that buyer to be insured. The premium rate is usually low and reflects the average credit risk of the insured portfolio of buyers. Additionally, credit insurance can also cover single transactions or trade with only one buyer.
The FCIA Management Company, Inc. Underwrites and services the credit and political risks business of Great American Insurance Company and foreign Insurance Company. The FCIA provides credit insurance that will protect both export and domestic sales, while specialising in offering flexible coverage options against non payment risks whether resulting from commercial or political events. Coverage by the FCIA is available to businesses in the United States of America on their customers worldwide. The FCIA makes its products available exclusively through brokers and independent agents, any of whom are specialists in credit insurance and related financial products. The FCIA maintains a vision to deliver financial solutions that fulfil today’s needs and tomorrow’s dreams to be a trusted partner delivering long-term value to their customers, employees and investors.