credit insurance
Debt repayment guarantee
Credit insurance protects lenders or sellers against the risk that borrowers or buyers won't pay what they owe.
Banks purchase it to cover loan defaults; businesses use trade credit insurance to guard against customers failing to pay invoices.
The exporter required credit insurance before shipping goods to the new client.
- claimsStatements of truth
- bad debtUnrecoverable money owed
- coverageExtent of inclusion
- guaranteeFormal promise of fulfillment
- policyholderOwner of insurance contract
creditworthiness · insolvency · payment default · underwriting · indemnity · subrogation · premiums · protection · financial guarantee · political risk · risk assessment · collateral · loss prevention · payment terms · claims processing · accounts receivable · international trade · debt restructuring
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Contract paying upon death
term life insurance · health insurance · property insurance · liability insurance · auto insurance
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