• Domestic, Foreign, Global Accounts Receivable
• Medium Term Trade Credit
• A/R Secure®
• Top accounts/single-buyer policy
• Comprehensive domestic & export credit insurance
• Trade Credit for Multinationals
• Credit insurance for banks & financial institutions
Policy limits and country limits up to $500 million or more
Coverage for specific, scheduled customers up to $250 million or more
$20,000 revenue: $10 million minimum
Typically insure 90% of their receivables excess of deductible – 10% co-insurance.
For banks and other financial institutions insureds, we may offer 100% excess of deductible
A/R Secure and top accounts – No or very low deductible; all others may or may not. No minimum or maximum
Agriculture, retail, metals
Agriculture, automotive, capital equipment, chemicals, computer hardware, software, consumer electronics, consumer goods, energy, food, metals and other commodities, manufactures and distributors
When one of our insureds was faced with adverse financial conditions as the result of the insolvency of a key customer, our Trade Credit insurance responded by indemnifying the insured for a substantial portion of the customer’s covered unpaid accounts receivable, which allowed the insured to move forward without significant disruption to the business’ cash flow. Thereafter, AIG took the lead in the ongoing recovery effort to reduce the loss sustained for the benefit of both parties.
When a U.S. parent company abruptly decided to place one of its local subsidiaries under bankruptcy protection in Canada, our insureds were indemnified for covered loss for shipments to that subsidiary despite the fact that the parent company continued to operate.
Our insured in the rice distribution business, which is heavily dependent upon a working capital loan from a global bank to finance its business, suffered a credit loss in Mexico when one of its largest customers went bankrupt. The claim payment from AIG allowed the insured to continue to service the principal and interest on the working capital loan and not lose access to a key funding partner. The insured’s global banking partner, as a Loss Payee on the policy, recognized the strength and support provided by our insurance, and continued to provide the loan into the future.