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XOL – Excess of Loss

Available in the following countries: Belgium, Bulgaria, Czech Republic, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovenia, Spain, Sweden, United Kingdom.

Our credit insurance policies offer solutions to protect you against non-payment of your receivables. Excess of Loss implies that clients are responsible for their own credit management and losses from buyer insolvency up to a level they feel they can cope with. Credendo – Excess & Surety backs them up with the insurance they need to guard against catastrophic damage if a major buyer goes bankrupt.

Product benefits

  • Made-to-measure programme based on credit management procedures without interference from the insurer
  • Full autonomy of the credit manager
  • Peace of mind in the event of unforeseeable and exceptional loss
  • No extra administrative work required
  • Certainty of payment of your receivables

Isabel Kervyn, Credendo - Excess & Surety
“The Excess-of-Loss approach is unique (fully hands-off)”

Main characteristics

  • Made-to-measure insurance
  • Cover of insolvency and protracted default related to trade transactions
  • Policy parameters decided by the insured : Liability/capacity (total risk borne by Credendo – Excess & Surety), Deductible (risk retained by the insured), Premium related to the capacity requested
  • Up to 100% above deductible
  • Extension to sales contracts can be covered by additional costs: WIP, pre-delivery risk, consignment stock, contract termination, binding orders, etc.

Credit insurance insures against the risk of non-payment of receivables from domestic and foreign customers due to their inability or unwillingness to pay (commercial risk) on the side of the domestic or foreign buyer. Based on our long-standing and wide experience, we offer cover in more than 150 countries worldwide.

Our credit insurance policy is a comprehensive product that protects the business from losses from outstanding debts. Thanks to our insurance policy, Credendo will pay an indemnity in the event that a customer doesn’t pay a claim and recovery fails. Because you remain in charge of the collection of unpaid debts, there is no interference by the insurer in your customer relationship.

Credit insurance is recognised by banks as a tool that allows them to provide the necessary financing. Under certain conditions, it is even possible to pay the indemnification straight into your bank.

But that’s not all: we can insure risks arising from other contracts such as:

  • WIP
  • Pre-delivery risk
  • Consignment contracts
  • Contract termination
  • Binding orders
Read more

Contact us

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XOL – Excess of Loss, Folder
General Conditions

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