- Protracted Default Cover
- Insolvency Cover
FAQ
Trade Credit Insurane Terms Glossary
Is the total amount of your company’s turnover being insured
In the event that at the end of the policy period, your company’s turnover is less than the Estimated Insured Turnover stated in the policy, you are applicable for a refund on the premium, up to the minimum premium amount.
This is the maximum payable amount in claims that would be paid by us during the policy period
Is an additional premium charged if the loss ratio of the policy exceeds the percentage mentioned in the policy.
Is a Deductible that is applicable on each & every claim
This is the maximum credit period to be offered to your buyers, however the timeline will still be as per the agreed payment terms with the buyer.
Grace period offered after the payment terms/original due date, in case a buyer does not pay on time, you can extend the due date for a certain period from original due date without informing us
DCL enables you to be covered without an underwritten limit. There are no credit limit fees, and streamlines the process of having your smaller buyers covered.
We request that you declare your turnover to us, as stated in the declaration period section.
Credit limit fees are applied on each buyer you are requesting a credit limit on. It applies for any buyer that is above the discretionary limit amount.