Credit insurance Primary tabs Credit insurance is a policy of insurance purchased by a borrower to protect their lender from loss that may result from the borrower’s insolvency, disability, death, or unemployment. When a borrower who has credit insurance becomes insolvent, disabled, or deceased, their credit insurance company pays off their debt in order to protect the borrower’s credit or the borrower’s family from liability. Credit insurance is typically offered as an extra service by credit card issuers or lenders to individuals who apply for an auto loan, auto equity loan, unsecured installment loan, or subprime credit card. Borrowers purchase this type of insurance to guarantee...
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Credit Insurance It’s extremely common to take out a loan to make a large purchase, or use a credit card for charging smaller everyday items. Occasionally, unforeseen circumstances or financial difficulties can put you in peril of defaulting on your monthly payment. Is there any way to guard against the possibility that you won't be able to make your payment in the future? Read on to learn more about credit insurance. How Credit Insurance Works Credit insurance is debt cancellation coverage that is sold by lenders, including banks, credit unions, auto dealers, and finance companies. When you take out a loan, or when you use a credit card, you have the option of purchasing credit insurance....
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A Guide to Trade Credit Insurance Credit insurance coverage protects businesses from non-payment of commercial debt. It makes sure invoices will be paid and allows companies to reliably manage the commercial and political risks of trade that are beyond their control. It ensures that: Cash flows are maintained Loan servicing and repayments are enhanced While commercial credit insurance can be a smart investment for many companies, it may not be applicable to companies that sell exclusively to governments or retailers since trade credit insurance only covers business-to-business accounts receivable. A trade credit insurance policy allows companies to feel secure in extending more credit to...
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Credit insurers will remain buoyant amid the current Covid-19-related economic recession as trade credit backstops provided by governments will ensure losses won’t loom as large as they did during the 2008 global financial crisis, said credit rating agency Fitch Ratings. The agency predicts that pandemic-related credit insurance claims will peak in late 2020, as well as continue well into 2021, however “credit insurers’ financial performance should then improve as they re-underwrite business at higher prices to recoup losses and meet higher demand”. State support has proved a vital lifeline for this segment of the insurance market. Across the world, governments have created schemes designed...
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About – Regent Regent is one of South Africa’s top credit insurance brokerage companies, which does the searching for our clients. Leveraging our Experience Getting the right product when you need it is often a chance you take when doing the search yourself. For anyone who is inexperienced in the insurance industry, it can be quite a stressful task. We have had many years to form relationships with top insurance providers, who all offer the most valuable benefits to clients, with top quality premiums and a value for money you would battle to find on your own. Fast Results With our supplier and insurance leverage we can secure the best credit insurance cover for you quicker than ever....
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According to media reports, chancellor Rishi Sunak will wait until the autumn before announcing his next significant stimulus package for the UK economy. While many would have welcomed an emergency summer Budget, infrastructure investment at the heart of any announcement will be welcome news for a construction industry reeling from months of lockdown and the preceding uncertainty and economic slowdown caused by Brexit. Firms who had to close construction sites or workers who were shut out of them will be all too familiar with the lifelines already provided by the government’s unprecedented monetary response since the pandemic began, including the job retention and business interruption loan...
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The Government has said it will guarantee up to £10 billion in trade credit insurance schemes in its latest move intended to support UK business in the face of coronavirus. Trade credit insurance protects firms from the risk that their customers collapse before being able to pay for goods or services. The state guarantees mean that the vast majority of current insurance coverage can be maintained despite current uncertainty, the Government said. Trade credit insurance covers around 630,000 businesses in the UK each year. We welcome the announcement today from @hmtreasury & @beisgovuk of temporary £10billion guarantee scheme for trade credit insurance: https://t.co/zDEjmHZdTn The scheme...
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Make sure your family is protected if you experience an unexpected event that’s covered. Should you pass away as a result of a covered condition, get a terminal illness or suffer a covered accidental dismemberment , TD Mortgage Life Insurance can pay up to $1,000,000 Outstanding TD mortgage less any arrears Overdrawn balance on your property tax account As an enhancement, you can add optional TD Mortgage Critical Illness Insurance which can pay up to $1,000,000 if you are diagnosed with Cancer (life threatening), Acute Heart Attack, or Stroke. We offer competitive group rates, and discounts may apply. As defined in the Certificate of Insurance. Exclusions and limitations apply. Total for...
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For a very long time, credit insurers only covered a complete portfolio of debtors, but that has changed in recent years. Jean Guinée: “Traditional insurers base their services on the entire turnover. Such an insurance solution includes all the firm’s debtors. It results in a mix of ‘good risks’ and ‘less good risks’, which offers the insurer a certain level of comfort. However, there is an increasing market demand to insure only a few debtors or even just a single debtor. These are usually clients or suppliers with an exceptionally high individual outstanding balance that would cause considerable financial damage in case of non-payment. Market demand has...
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About Export Credit Insurance Credit insurance is insurance for companies against the risk that their business customers do not pay for goods or services they bought. Credit insurance was born at the end of the nineteenth century, but it was mostly developed after the First World War. Customers include companies of all sizes, and banks and factoring companies that finance trade of these companies. Credit insurance is offered by private credit insurance companies, public Export Credit Agencies (ECAs) and multilateral institutions. Most developed and emerging markets, and some developing countries, have at least one credit insurer operating in their territory. As a trade association, the...
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