Trade Credit Insurance is an
insurance policy that protects a company's commercial
accounts receivable from loss due to non-payment or
insilvency be the debtor.
History
Trade Credit Insurance was born at the end of nineteenth century, but it was mostly developed in Western Europe between the first and Second World Wars. Several companies were founded in every country, some of them also managed the political risk to export on behalf of their State.
Credit Insurance is a term used to describe both Trade Credit Insurance and Credit Life Insurance.
Trade Credit Insurance should not be confused with Credit Life Insurance which is a consumer purchase.
Over the '90s, a concentration of the Trade Credit Insurance
market took place and three big companies became the main
players of a market focused on Western Europe:
- Euler Hermes, merger of the two credit insurance companies of the Allianz Group.
- Atradius.
- Coface. Formerly a French government sponsered institution established in 1946, this company has been privatived and now operates in more than 58 countries around the world. In addition to trade credit insurance, Coface provides business information products, debt collections services and trade finance solutions. Global web site www.coface.com; USA web site www.coface-usa.com
External links
- COFACE official website
- COFACE NORTH AMERICA official website