Credit Insurance

What does Credit Insurance offer?

Credit insurance provides you with security and certainty of collection. In the modern foreign trade environment, companies are exposed to many risks in the performance of their business. Certainty that the receivables from export and domestic business will be collected is a precondition for normal business and planning, and sustainable growth.

Receivables are your property – don’t take risks!

If you want to raise competitiveness, enter new markets and increase the number of buyers, you must offer your clients the option of deferred payment.
BUT, selling your products and/or services with deferred payment puts you at risk of losing a part of your property and jeopardising your business.
If responsible business is your objectives, credit insurance enables you certainty of collection and a reliable partner in risk management.

How can you ensure secure and stable business by insuring receivables?

We have successfully carried on credit insurance business for more than 10 years. From our experience, there are no sure buyers. When you make a deal with a foreign or domestic buyer with deferred payment, there is always a risk that you will not be paid for the goods delivered or services provided.

Credit insurance provides you with a service tailor-made to your business if you want:

  • To protect your business by transferring non-payment risk to us, as your insurer;
  • To offer deferred payment to buyers;
  • To raise competitiveness;
  • To expand to new markets and increase the number of buyers;
  • To improve sales;

What are the benefits from credit insurance?

  • Prevention, in terms of buyers’ analysis, coverage of buyers from all continents;
  • A significant improvement in competitiveness on account of sales with deferred payment, lower costs compared to other forms of collaterals;
  • Constant monitoring of existing and potential buyers;
  • The ability to expand sales to new markets;
  • Higher revenues and profitability;
  • Security by transferring non-payment risk to the insurer, payment of claims, which indicates that you manage risks responsibly;
  • Improved liquidity;
  • Better access to financing options.

If the buyer does not pay you, and you are not insured, can you afford the loss?

Unforeseen events and changes in the market may bring even the buyers you have done business with for years to a situation where they are unable to settle their liabilities.

If your profit margin is 5%, to cover an outstanding receivable of just EUR 10,000, you need to raise your income by EUR 200,000.

Which risks can you insure against?

  • Commercial risks and
  • Non-commercial risks.

Short-term credit insurance AGAINST COMMERCIAL RISKS:

The subject of insurance are short-term receivables of the policy holder arising from goods delivered or services provided to buyers, which occurred and applied for during the validity of the insurance contract, and for which the policy holder has issued invoices to the buyers with deferred payment of up to 180 days.

Commercial risks covered by this insurance product are:

  • The buyer’s insolvency risk (bankruptcy) and
  • Extended non-payment risk

Short-term credit insurance AGAINST NON-COMMERCIAL RISKS:

AOFI pays an indemnity in case the following non-commercial risks occur:

  • A failure to pay the debt within six months of the agreed deadline of its maturity if the debtor is a state, a government agency or an entity that the state and/or the government agency guarantees for;
  • Political events in the debtor’s country or war in debtor’s home country;
  • A general debt moratorium, inability to convert the currency of the debtor’s country into convertible currencies or a transfer ban, until the bans expire;
  • Ban on imports of goods and services by a state or government agency as the buyer of goods or beneficiary of services;
  • Unilateral termination of the contract by a state or government agency as the buyer or beneficiary, except when the termination occurred due to a violation of customs or health regulations of the importing country or beneficiary country;
  • Seizure, damage, ban on use, or destruction of the goods, carried out by a state or its institutions, from the moment the goods cross the boundary until their receipt by the foreign buyer.


Marko Tulije Ciceron

  1. The exporter submits the request form for credit insurance the necessary documents;
  2. The responsible department at AOFI sends an indicative offer to the exporter;
  3. If the exporter agrees to the indicative offer, the responsible department at AOFI orders credit reports for all buyers to which the client gives deferred payment terms;
  4. The responsible department at AOFI analyses the buyers’ creditworthiness and sets the credit limits;
  5. AOFI delivers the final offer to the exporter, after which, if the exporter accepts it, the insurance policy is signed.

Credit insurance is the best form of protection in the business world. Use all advantages of this service!


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