Course Details
hours
7.0
price
$99.00
This course is not subject to discount pricing.
  • Course:
  • Internet
  • Exam:
  • Internet

Additional Credit Available:

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Credit Insurance

Reaccreditation >> IRMI Renewal

Course Description
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. One reason that more businesses do not have this coverage is that many business owners and insurance producers simply are not aware that such coverage exists. Or if they are aware of it, they do not know enough about it to understand how it applies to them.

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
This is an intermediate level course. Upon completion, students will be able to:

  • 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
  • recognize the essential elements and steps in a typical credit insurance claims procedure

Prerequisites 

A basic understanding of accounts receivable transactions.

CPE Field of Study
Management Services

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

By IRMI
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference services. IRMI publications are considered the ultimate authority by leading insurance practitioners and even federal appellate courts when interpreting insurance coverage. Use the knowledge you gain from IRMI CE courses with confidence, knowing they are written by seasoned insurance professionals who employ diligent quality assurance standards to provide the most up-to-date, practical, and reliable information possible.