Credit Insurance

Credit Insurance provides protection against the direct financial loss resulting from the insolvency or non-payment from a customer/buyer for commercial trading terms up to 360 days.

Contrary to conventional wisdom, the severity of credit exposures are far greater in North America than in many overseas markets. Recent economic conditions combined with the ease with which companies can now file for creditor protection have made credit and political risk insurance a management tool for companies with both domestic and export sales.

Specific events covered by a standard credit insurance policy are:

• Insolvency of a buyer
• Protracted default (the non-payment of an account after a specified period of time)
• Repudiation or buyer non-acceptance of the goods

Many policies now combine coverage for credit and political risks.

 

We would be happy to help you.  Please feel free to contact us in one of our Ontario offices (Ottawa, Toronto) our Québec (Montréal) office or in our British Columbia (Vancouver) office.