Credit insurance is a product which main aim is to protect the Client against unplanned losses due to non-payment from the part of the contractors. Compensation is paid by the insurer in the following cases:
Just a few years ago in Poland receivables insurance policy were concluded by companies which activities had high risk of non-payment of dues. Currently, more often the credit insurance of a permanent is a part of a receivables management policy. As a result, different insurance policies are implemented into the Polish market such as:
How do we help?
Insurance guarantee is the commitment of the Insurer (Guarantor) to pay the beneficiary a specific amount of money, in the case of an event specified in the warranty. Insurance guarantee unlike insurance is usually paid unconditionally and irrevocable and it is not subjected to the additional conditions by the debtor or beneficiary of the guarantee.
Insurance guarantees are useful for companies participating in tenders regularly and companies seeking to new investment contracts. That is why the guarantee of insurance is mostly used by companies operating in the construction and service with bigger investment.
The most common forms of guarantee are:
How do we help?
We negotiate the best conditions for price guarantee subscription due to the nature of the hedged contracts. We also assist in completing the necessary documentation and in evaluating the financial condition of the customer by the Insurer.
In the classical approach to the credit insurance which specialized insurers offer, monitoring insolvency risk is under the control of the insurer. He gives the credit limits on key customers, decide on the amount and the possible changes in the course of the policy and the amicable recovery is performed in the case of non-payment…. View Articleread more
Several years ago, no one asked this question because receivables management departments were mostly the domain of large international companies. In the MSP sector, elements of the debt management functioned, because decisions concerning contractors were made in majority by an Owner, the payments were made by an Accountant and unscrupulous debtors were handed over to… View Articleread more
Credit insurance in Poland is a product that is constantly evolving. Many large and medium-sized enterprises insure receivables for years, or at least use the credit management tools such as credit reports, monitoring and recovery of receivables offered by external specialized companies. Meanwhile, in the current changeable economic reality credit insurance is an important product… View Articleread more
Insurance policy are in large part based on an assessment of the counterparties portfolio by the insurer. It is also choosing which recipient is and in what time it can be insured for a specific amount of credit limits. Although in most insurance policies there is an automatic insurance without the control of the insurer,… View Articleread more