Credit Insurance by Miran Jus

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By Miran Jus

This monograph is essentially orientated, offering a survey and clarification of credits coverage prone for cover of temporary exchange receivables basically opposed to advertisement danger of insolvency and persistent default. the subject material (i.e., major features, good points and rules of credits assurance with particular description of credits insurance, coverage stipulations, and credits insurance plans administration) follows procedural levels and provides advertisement, monetary, felony, and sensible issues of view which emphasize the wishes of either the services of those companies and their consumers - current and capability credits insured businesses - to boot as other practitioners.

  • Explains how credits assurance has replaced from an esoteric kind of estate assurance right into a versatile and regularly used credits hazard mitigation software used on an international basis
  • Compares credits assurance with self-insurance and identical substitutes
  • Describes the categories of coverage to be had and the way to acquire and deal with credits assurance policies
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Extra info for Credit Insurance

Sample text

Direct involvement of the credit insurer in the debt collection furthermore disburdens the company from “unpleasant” activities which may lead to resentment and make further cooperation between the partners impossible or at least difficult. Moreover, experience and poor payment discipline of a buyer involved in credit insurance may also influence his reputation and the volume of credits he can obtain from other suppliers or financial institutions. The credits of other suppliers can be insured for the same buyer.

For such buyers, the insurer may suggest and require collateral, for example, besides customary retention of title (ROT), the insurer can also demand additional securities, comfort letters, or guarantees of mother companies and third persons. RISK MONITORING. Credit insurers continuously, or from time to time—for example, regularly on a yearly basis, monitor economic conditions for particular markets and industries, and perform risk monitoring. In fact, local insurers and in early stages of internationalization credit insurers mainly monitored the domestic companies and exchanged credit information when insuring export credits.

Moreover, one must not forget that credit insurance companies are usually financially strong institutions. Regulators sometimes require a higher level of capital for credit insurance and, in addition to other provisions made against possible future losses or potential claims, credit insurers must form equalization reserves and manage their reserves assets with due care according to the principles of security, liquidity, and profitability. Furthermore, in heavily regulated environment, these financial institutions are licensed and bound by strict capital adequacy requirements and prudential supervision.

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