IFFCO Tokio Credit Insurance

I am planning to take insurance plan and heard about the IFFCO-Tokio Credit General Insurance wants details about this plan. Can you provide all details related to IFFCO Tokio Credit Insurance along with risk covers also provide details about the factors covered and not covered?

[shikha]

Credit Insurance is a tool which helps the companies to expand business with peace of mind.

IFFCO-Tokio General Insurance in cooperation with Coface, which is global leader in credit management services and credit insurance, are able to provide the credit insurance services to the clients.

The risk covers are as follows:

Export Credit insurance covers:

Commercial Risks
Political Risks

Commercial Risks

Covered:

Protracted Default or Delayed Payment by the debtors.
Insolvency.

Not covered:

Trade disputes
Non-Acceptance of goods

Political Risks

Covered:

Natural disasters like earthquake, cyclone, floods, etc.
Import license cancellation
Protracted Default on State Owned Entities
Any measure taken by the country where buyer is located, preventing payment of a transaction.

Not covered:

Devaluation or Depreciation of currencies
Protracted Default or Delayed Payment by the debtors.
Insolvency.
Trade disputes
Non-Acceptance of goods

Indemnity

Up to 80% of the insured debt, for both commercial as well as political risks

Claims

Unlike other insurances, there is a waiting period of 5 months in this policy.

The policy holder has the option to grant extensions to the debtor for payment within the maximum credit period specified in the policy without paying any additional charge and without prior approval.

Contact:

Corporate Office
IFFCO Tower ,
Plot No. 3 , Sector 29 , Gurgaon -122001
Haryana(India)

1-800-103-5499
Alternatively you can also call:
(0124) 428 5499