PRODUCTCREDIT INSURANCE 

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Credit Insurance is a type of insurance that protects businesses or financial institutions from losses arising from non-payment of debts by their customers or borrowers. It ensures financial stability by mitigating risks associated with credit sales or loans.

Credit Insurance can be categorized into several types based on its purpose and application:

  1. Trade Credit Insurance
    • Purpose :
      Protects businesses against non-payment of commercial debts by customers.
    • Coverage :
      • Insolvency or bankruptcy of the buyer.
      • Protracted default (buyer’s failure to pay within the agreed timeframe).
      • Political risks (e.g., war or currency transfer restrictions affecting international trade).
    • Applications :
      Businesses involved in domestic or international trade.
  1. Credit Life Insurance
    • Purpose :
      Ensures that a borrower’s debt is repaid in the event of their death or permanent disability.
    • Coverage :
      • Outstanding loan balances.
      • Financial obligations related to mortgages, auto loans, or personal loans.
    • Applications :
      Individuals with significant loan obligations.
  1. Mortgage Insurance
    • Purpose :
      Protects lenders against defaults on home loans.
    • Coverage :
      Pays the lender if the borrower defaults on their mortgage.
    • Applications :
      Required by lenders for high-risk borrowers.
  1. Export Credit Insurance
    • Purpose :
      Provides protection for exporters against non-payment by foreign buyers due to political or commercial risks.
    • Coverage :
      • Buyer insolvency.
      • Government actions, including import/export bans or transfer restrictions.
    • Applications :
      Businesses engaging in international trade.
  1. Consumer Credit Insurance
    • Purpose :
      Covers consumers’ debts in cases of death, disability, or unemployment.
    • Coverage :
      Loan repayments for credit cards, personal loans, or installment plans.
    • Applications :
      Individuals using credit facilities.

PT. Tala Reinsurance Brokers

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Jl. Gatot Subroto Kav. 74-75
Jakarta 12870
+6221 830 6663
+6221 830 6662
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