Trade credit insurance policy protects against the risk of default of buyers and preserves liquidity of the company, which could be significantly compromised due to lack of inflow of receivables for delivered goods and services.
Trade credit insurance policy is a tool for successful management of trade credit risks and thus strengthens financial stability of our clients.

Insurable are trade receivables between businesses, both receivables in relation to the deliveries of goods and services domestically or abroad. Insurable are trade receivables whose maturity does not exceed 1 year, usually with terms of up to 180 days. Insurance contract can be concluded with businesses of any size or industry.

The insurance premium is the amount obtained by multiplying the premium rate and the reported insured turnover. Premium rate is determined for each insurance contract based on the specifics of the insurable portfolio of the client (total annual sales – annual turnover based on open account terms, experience in credit risk management, the existence of earlier trade relationship with buyers, experience in debt collection, how much of the portfolio is given to insurance coverage, number of buyers, buyer country, economic sector). The agreed premium rate applies to the entire insurance period of one year and applies to total turnover from existing and new buyers covered by the insurance policy.

The insurance premium is calculated monthly based on the reported insured turnover  (invoiced amount for delivered goods and services) generated in the previous month. The Insured reports to the Insurer only turnover with buyers for which there are approved credit limit (insured amount).

Each potential client can obtain a quote on insurance coverage terms shortly after the initial contact and request. The basic prerequisite for such an offer is completion of a Questionnaire by the client. Information provided in the Questionnaire is treated as confidential and is used solely for the preparation of such initial offer. Insurance offer does not represent cost to the client, and is only an indication of the basic conditions of insurance, the level of coverage and related premium rates.

Yes, there is a possibility that the insured gets coverage only for domestic receivables.

In addition to the indemnity to which the Insured is entitled to in case of realization of the insured risk, trade credit insurance presents useful tool for management of trade credit receivables. Insurer checks your buyers and so relieve some of your resources and time that you would otherwise have paid to test and gather information about buyers. Additionally, the insurer monitors the changes in the buyer situation, based on its many sources, which is the early warning system on the way how you can further cooperate with these customers.

In order to exercise their rights in relation to indemnity in case of realization of the insured event, of the utmost importance is that the Insured acts in accordance with the conditions of the insurance contract.
After Insured submits claim with the necessary documentation, the undisputed part of the damages will be paid within 30 days of receipt of the claim.

The insured turnover has to be reported for each insured buyer on the form Turnover report or at any other format agreed between the Insured and the Insurer. The Insured has to report only turnover with insured buyers, until the 15th day in the month for the previous month.

In order to rapidly resolve problems with non-payment by buyers, it is necessary to inform the Croatian Credit Insurance immediately after the buyer exceeds the maximum payment terms, and no later than 15 days from the due date of payment at the maximum payment terms. Notification of potential loss

Retention is the own share of the Insured in the damage. It is set to be at least 10%.

Yes, the Croatian Credit Insurance can at the request of the Insured assign the insurance contract to the commercial bank of the Insured. There is also the possibility that the part of insured receivables is assigned to one bank and other part of receivables to other bank.