Policy snapshot
Credit Insurance protects businesses against non-payment or delayed payment by buyers (domestic or export), due to insolvency or political risk.
What is Credit Insurance?
Credit Insurance protects sellers from non-payment by buyers, helping secure working capital and trade cycles. It’s essential for companies with credit sales or export exposure.
What can it cover?
- The policy covers losses arising from buyer non-payment due to insolvency, default, or political risk (like import bans or war for exports). It helps maintain liquidity and facilitates easier access to bank finance by assigning receivables.
Who should consider it?
- Exporters (especially SMEs), Wholesalers, manufacturers, suppliers offering 30/60/90-day credit, Companies entering new geographies or buyer relationships.
Key features to understand
- Covers protracted default, insolvency, political risk
- Export & domestic buyer risks
- Single-buyer or portfolio cover
- Offered via ECGC (for exports) or private insurers
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.