FCIA - Credit Insurance
FCIA - Great American Insurance Group
125 Park Avenue, 14th Floor
New York, NY 10017
What is Trade Credit Insurance?
If you are a company selling products or services on credit terms, or a financial institution financing those sales, you are providing trade credit. When you provide trade credit, non-payment by your buyer or borrower is always a possibility. FCIA's Trade Credit Insurance products protect you against loss resulting from that non-payment.
A debtor's non-payment can be caused by commercial events such as insolvency or protracted default. On international transactions, non-payment can also result from the occurrence of disruptive political events such as wars, government interventions, or currency inconvertibility.
Trade Credit Insurance can be a cost-effective mechanism for transferring risk. Premiums are generally charged either as a percentage of sales or as a per annum rate on limits. Premium rates are influenced by various factors including country risk, obligor risk, length of payment terms, and your loss experience.
What is Political Risk Insurance?
Operating in foreign countries, especially in emerging markets, can expose your company to additional risks related to unpredictable foreign government acts or political events. FCIA offers an array of political risks coverage that can help protect your investment in foreign countries. Political Risk coverage protects you against loss in value of your foreign investments or assets resulting from specified political events during the policy period in the country where the investments or assets are held.
These policies insure against losses due to named political events related to:
* Equity Investments and permanent assets
* Shareholders Loans
* Mobile Assets