Solutions
Our solutions offer opportunities for your organisation. We list four of them:
- Turnover policy in countries with low credit rating
All insurers can easily obtain information in Western countries. But we have good contacts with an insurer that has a lot of information and also provides cover in the 'difficult' countries in (North) Africa, Middle East, South America, Balkans and Asia. With back cover from this credit insurer, Dutch exporters can better compete with foreign companies. And thus further expand their sales in these emerging (and therefore sometimes challenging) countries. Under the policy, an exporter can insure all exports on Zone countries outside the EU.
- Single Risk: protection against one debtor or one project
For a very long time, credit insurers only offered the possibility of covering an entire portfolio of debtors. This is because the classic credit insurer is based on the spreading principle. Here, all debtors of a company are included in the insurance solution. This ensures a mix of good and less good risks, which gives the insurer a degree of comfort.
There was an increasing demand from the market to insure only a few debtors, one debtor or even one project. This desire from the market has prompted some insurers to offer so-called Single Risk solutions. These offer protection against insolvency of one or a limited number of debtors.
- Non Cancellable: more security for the client
Within traditional credit insurance, the insurer has the option of reducing or even withdrawing the credit limit. If this withdrawal or reduction relates to a large and important debtor, this can lead to financially dangerous situations. As more and more companies feel the need for extra security, some insurers introduced the so-called Non Cancellable-limits. These are covers with non-retractable limits for a maximum duration of one year, and are only applicable to buyers with a good credit rating.
- Top Up: additional third-party cover
Sometimes an insurer approves a credit limit application only in part. However, many companies want the full credit limit covered. Especially for those companies, the Top Uppolicy introduced. When the primary insurer provides insufficient limit on a debtor, a third party can provide additional - temporary or permanent - cover. Usually, this third party takes over the terms of the primary credit insurance policy.
Want to know more about credit insurance or any of the above customised solutions?
Contact us at info@xolv.nl or 073 -2082700.
