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credit risk insurance

John O'Connell


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Insurance which protects against a borrower defaulting on a debt to the insured. International trade is commonly carried out with some form of credit being advanced by the exporter to the importer. Credit insurance reimburses the exporter if the importer fails to pay for the ordered goods. International credit insurance resembles credit insurance secured for an exporter's domestic credit risk. That is, the price of insurance generally is dependent upon the insured's credit policies, amounts outstanding, and past credit history. This type of insurance is underwritten very differently from other insurances. With credit risk insurance the insured's financial condition, financial management, and credit policies provide the basis for pricing and issuing the insurance contract. ( 1992 ). Multinational Business Finance , 6th edn. Reading, MA : Addison‐Wesley . ... log in or subscribe to read full text

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