Credit insurance is protection provided by an Insurance Company to a Bank/Financial Institution against the risk of the Debtor’s failure to repay credit facilities or cash loans such as working capital loans, trade credits and others provided by the Bank/Financial Financing Institution.
- The debtor does not pay off the credit when the credit is due
- The debtor is declared insolvent
- Debtor fled/ disappeared/ the address no longer known
- There is a credit withdrawal before the credit period ends
- Other risks agreed between the insured and the insurer as outlined in the Cooperation Agreement or Collective Agreement
- P2P Lending
- Multi finance