Credit Risk Insurance

Credit Risk Insurance in shipping is a type of insurance that protects exporters or shipping companies from financial losses resulting from non-payment or default by their customers. This insurance helps companies to manage the risk of selling their products or services to customers who may not be able to pay their bills on time or at all. 

Credit risk insurance typically covers a range of risks, including insolvency, bankruptcy, political risks, and other financial risks that may affect the ability of the buyer to pay for the goods or services they have purchased. The insurance policy may provide coverage for a specific transaction or for a portfolio of transactions with different customers. 

Credit risk insurance can be beneficial for both exporters and shipping companies, as it allows them to mitigate the risk of non-payment and focus on growing their businesses without the fear of financial losses.