Foreign trade insurance
What is foreign trade insurance?
Foreign trade insurance is intended for companies interested in protecting their credit sales to business customers abroad.
The policy provides protection against non-receipt of a payment due to:
- Economic difficulties
- Non-payment due to political events in the customer's country (such as war, revolution, prohibition of sending foreign currency, nationalization, cancellation of import licenses and more).
ICIC's insurance cover secures debts owed to the policyholder for transactions made also in such cases.
Advantages of foreign trade insurance with ICIC
- Credit risks management service – receipt of a professional recommendation, based on an analysis of the ability of customers to pay the company and monitoring in-depth information, regarding the amount of credit recommended for every customer. This service assists the insured company when taking significant decisions in the sales processes.
- Expanding into new markets – on the basis of ICIC and its global Group's wide deployment, and the information available facilitates the ability to expand operations in a controlled way into new territories.
- Security – Protecting cash flows and the Company's financial balance sheet.
- Professionalism in managing credit – thanks to the considerable know-how the considerable information that ICIC has accrued over many years in the field of managing credit risks.
- Personal relationship – a personal adaption of the policy after an analysis of the Company's requirements.
- Innovations – unique solutions to credit risks that the company confronts.
- Peace of mind – the professional and experienced team which will provide advice and assistance in sharing credit risks and in collection processes.
- Financial strength –insurance with ICIC will assist the company to expand its ability to finance working capital, on the basis of ICIC's financial strength, in its relations with banks and financing bodies.
- Increasing sales – thanks to the sharing of risks with ICIC.
- Operative convenience – using ICIC's online system, it is possible to access the database of insured credit operations from anywhere in the world.