Risk management solutions like cargo insurance and trade credit insurance is extensively sought out by modern business owners. Availing Cargo insurance in Delhi NCR is essential for companies involved in the transportation, shipping, and logistics of goods. This insurance protects against loss or damage to goods during transit. On the other hand, Trade credit insurance in Delhi is designed to cover the payment risk resulting from the delivery of goods or services. Under such a policy, the credit insurer generally covers a portfolio of buyers and pays an agreed percentage of an invoice or receivable that remains unpaid.
The causes of loss covered under this policy tend to include:
- Insolvency: Safeguard your business from the risk of non-payment if a buyer becomes insolvent.
- Protracted default: When a buyer fails to settle the receivable within a specified timeframe calculated from the payment due date.
- Political Risks: For export coverage, the insured can opt to cover political risks, which include non-payment due to moratorium, transfer restrictions or inconvertibility of currency, war, import/export restrictions, natural disasters, license cancellations and more.
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