INSURANCE & CORPORATE FINANCE
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CREDIT INSURANCE
Increasingly businesses are opting to invest in Credit Insurance to mitigate their risk in today's challenging economic climate. Credit Insurance, which is also referred to as Business Credit Insurance, in todays economic climate is now a essential requirement in such specific sectors such as, construction, manufacturing, service industries, wholesale and export industries. Credit insurance provides the client with risk mitigation and a safety net clients who are liable to defaulting or non payment of contarctual debts. This type of insurance covers both insolvency and, or protracted client default.
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UAS are able to offer a comprehensive range and type of of Credit Insurance policies to clients, ensuring that the client has access to the market and all available quality underwriter options .. UAS's relationships with leading market insurance providers and leading practioners is invaluable when assisting the client during a claim as UAS provide invaluable assistance to the client ensuring they get the best possible advice in gouiding them through the claims process.
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For further information on the Credit Insurance options that we are able to provide or to arrange a detailed quotation, please contact us for further details.
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CREDIT INSURANCE TYPES
Detailed below are a number of the more common types of credit insurance available to the market place. In addition to the insurances detailed below there are many more types of credit insurance available. (please enquire for more information).
CATASTROPHE CREDIT INSURANCE
Insurers generally exclude policies that directly cover riots, terrorism, floods, and other low-probability high-cost catastrophies. This is normally known a s Force Majeure.
Force Majeure events are generally excluded from most standard policies due to their high costs. Catastrophy insurance is a specialist policy and is normally provided for company's with turnover greater than $10 million.
DOMESTIC CREDIT INSURANCE
Domestic insurance policies offer insurance to products and services within a local market, which can be provided with or without a debt collection element, as a part of the domestic policy.
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EXPORT CREDIT INSURANCE
Export Credit insurance is provided for companies who provide exporting of products, with Export Credit insurance can provide cover for clients with products at port, in transit or abroad.
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PRE DELIVERY COVER
Pre delivery insurance provides insurance cover for conditions that are frequently experienced when products are made to order. Whilst any product that is being developed or manufactured the client should consider investing in pre delivery insurance. It is important that the client does not expose themselves to potential financial loss at each stage of the development process. Normally in larger projects there will be milestones and associated payments, payable at each stage (milestone) of the project. Transfer of ownership of the project occurs when the developer has completed to project. Ownership will transfer to client and at this juncture, when the owner will need to insure and protect their investment, as it will at that point take ownership of their asset and hence the liability will be transferred to the client and needs to be covered by insurance to mitigate any potential financial loss in the event of an fire, accident, theft etc.