TCI. TRADE CREDIT INSURANCE , POLITICAL RISK AND SURETY BONDS

We are trade credit and political risk insurance experts, supplying surety bonding domestically and internationally. Our covers can help you to finance your exports. Ask us how. We can also meet your factoring and receivables finance needs.

What is Trade Credit Insurance ? .

It insures the sellers , manufacturers , and the providers of services against the non-payment risk from their buyers . In the concept of non – payment risk usually it is included both the insolvency risk as a consequence of a bankruptcy or similar legal institution in international law or protracted default or late payment .

This is considered an essential credit management tool to help the credit manager to manage their transactions , improve payment behaviour , monitor the client exposures and prevent the non payment from them  . It is a risk management help for the credit controller .

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What is Political Risk ?

 Linked with the country risk, and related to Trade Credit insurance the political risk is one of the main concerns in today’s world, which may cause a direct harm on the exporter’s or investor’s returns . It is derived from a change in government or government policies , legislative bodies, laws or decrees , that can alter the profitability of the project or the sale .

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What is a Surety Bond ?

 It is a contract issued in order to guarantee to a buyer, or entity asking for a bond , that the contractor , or obligee , will act according to the underlying contract.

The insurance company issuing the bond is also called “surety” and they back the line of credit in case of failure from the obligee .

This is also known as property liability insurance (P&C). It is protection against any liability caused by an accident or event that can cause damage to a third party or his property. This insurance covers the repair or replacement cost of these goods to their original condition or as closely as possible.

To be liable, the Insured should be at fault, one way or another. This insurance can cover bills, indemnities or compensation, legal fees or loss of wages.

Some of the most common types are:

Casualty and Property Insurance of Industrial Plant

 This protects against physical damage that takes place in the Industrial Plant while carrying out the business activity.  It also covers the payment of compensation, cost of reparation or the replacement of some goods after an accident. It can also include liability insurance.

This product is intended for large or multinational companies or corporations and normally entails some major franchises. It is optional to include the extra coverage of loss of profits, after certain claims.

Property and Casualty Insurance for Stores, Offices and SMEs

This protects your business, small and medium enterprises (SME), office or store when carrying out commercial activity by insuring all goods, furniture or decoration, machinery, equipment and all the contents of the store. It is normally combined with the civil liability insurance.

It is highly recommended to include legal expense, loss of profits, work stoppage, electrical damage, and theft and pilferage coverage.

Commercial Insurance for Freelancers

This protects business activities carried out and it is especially targeted at professional self-employed people or freelancers and businesses in the service sector with 24 hour protection.

It can be suitable for people running a business from home, self employed people or just as a complement to property and casualty home insurance.