Credit insurance.
Why credit insurance?Your benefits
Credit insurance protects you against default. If your customer fails to pay you, you will be compensated by your credit insurer.
Credit insurance is also proactive: it limits your risk of unpaid invoices by analysing the creditworthiness of your customers.
Why CRiON?Our advantages
Free of charge market study
We summarise the conditions and coverage of different insurers for you in a clear comparative overview. Even if you are already insured through another broker or directly with an insurer!
Tailored approach
We adapt the policy conditions of the credit insurer we select for you to the coverage you need.
International network
Through the global Aon Credit Solutions network, we develop and manage international insurance programmes on your behalf.
Policy management support
CRiON supports you to the full in managing your policy. So you get the most from it.
Maximum supportWith us you will be stronger in your relationship with your insurer
If you take out credit insurance through us, we will give you maximum support in its management. As a CRiON customer, you’ll benefit from:
- prompt assistance in the event of credit limit problems
- an alert approach and follow-up of your claims
- pro-active review of your policy conditions in the light of changing market conditions
- advice on the most appropriate solutions and alternatives for additional or selective cover, business information and debt collection
Our solutions for credit risks you cannot cover, or only cover partially
Sometimes your credit insurer will only approve a part of your credit limit application. Or it is not prepared to insure one or more of your transactions. It may also refuse to cover the long-term credit risk of your projects, or to insure a political risk.
CRION will find a solution for these uninsured risks. We can identify the insurers and other financial service providers who are prepared to offer you supplementary or selective cover
Non-cancellable credit limits
We negotiate limits on your behalf that your credit insurer cannot cancel for up to 12 months. You then have the certainty that you can continue to deliver with cover through your credit insurance throughout that time.
Extended credit limits
We can arrange an additional policy with your existing or another insurer to provide top-up cover. In the best-case scenario, this can double the credit limits approved under your first policy.
Partial credit insurance
With our help, you can insure a single transaction. Or just the transactions you conduct with one or more of your customers.
Long-term credit insurance
For credit insurance for projects that run over several years, we find solutions with specialised insurers.
Insurance of political risk
Getting worried about the instable political situation in your buyer’s country ? No need for that, we’re familiar with the credit insurers offering political risk cover.
Fraud insurance
Increasingly, entrepreneurs are falling victims of fraud and computer crime. So complement your credit insurance with this valuable cover.
Insuring exceptional risks only
We will find you Excess of Loss credit insurance to cover just the exceptional risks that you cannot or do not want to bear yourself.
Your own insurance company
We will support you in setting up a captive to cover your credit risks.
Common questions about credit insurance
Our associated solutions
If you are confident that your credit management is robust enough to manage your credit risks appropriately and you therefore decide not to take out credit insurance, you yourself are responsible for obtaining commercial information and for debt collection. In this case, we will direct you to the experts who can best support you.
Even if you have credit insurance, you may decide to enlist the services of others in addition to the credit limit information provided by your insurer and/or the debt collection services it provides. We know the commercial information providers who are most familiar with your customers' home markets.
Commercial information
To minimise the risk of your customer becoming insolvent and therefore unable to pay you, you can obtain commercial information about its financial position.
CRiON knows the information sources that you need. Worldwide, because not every commercial information provider is equally at home in every market.
Collection
No matter how well you assess your credit risks it is always possible that a customer may be unable or unwilling to pay you. You then have to rely on collection.
We give you access to a global network of debt-collection service providers and select the best partner for you. So that you will still be paid.
Hans Mattheeuws Executive Vice-President Finance, Vynova
CRiON found us credit insurance with non-cancellable credit limits. This has enabled our trading capacity to grow strongly.
Consult a credit insurance specialist.
Your credit risk is unique. So our first step is to listen to what you have to say.
For optimal management of your credit risk, contact us now for credit insurance, commercial information or debt collection tailored to your needs.