Credits insurance is a term to describe both business credit insurance and customer credit insurance Business credit insurance is an insurance that is purchased by business people in order to ensure the payment that is extended by business. In the other hand, customer credits business insurance is an insurance that purchased by customers in order to ensure the payment which is expanded by customer.
Consumer credit insurance is to ensure the payback for bills even if the one who take responsibility is dead or having a disable condition and cannot fulfill their duties to pay. The benefit of this kind of insurance goes to the company that provides it, even if it is purchased by the customer. Business credit insurance is an insurance that manage risks and duties of product that includes payment for risks. This kind of insurance is purchased by business communities. This insurance ensures the payback risk for company and not individuals.
Credits insurance firstly occurred in the end of nineteenth century. And it was developed in west part of Europe. In 1990s it expanded towards the east part of Europe. They are Euler Hermes which happened to be the world’s number one credits insurance provider. The other two big companies do the same, are Atradius and Coface.
No comments:
Post a Comment