Overview
Businesses are often good at protecting themselves from obvious risks of property damage and liability. But what about the risk of customer nonpayment? Businesses are not nearly as likely to be covered for that, although they could be. This course discusses the insurance that covers the risk that a customer may not, under certain circumstances, pay a supplier for goods or services sold on credit. Credit insurance is specifically designed to protect commercial businesses from the risk of customer nonpayment. And it is to a businesses’ benefit that this important coverage be considered
Learning Objectives
- identify the types of losses that can be covered by credit insurance,
- recognize the benefits that credit insurance can provide to a commercial business client,
- distinguish between the major features of credit insurance and the major provisions of a typical credit insurance policy,
- identify steps in the process of procuring credit insurance, and
- recognize the essential elements and steps in a typical credit insurance claims procedure.
Designed For
Property and casualty risk, safety, insurance, and finance professionals
Prerequisites
A basic understanding of accounts receivable transactions
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.
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