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Insurance Definition: CREDIT INSURANCE

By Compuquotes Team on March 27th, 2008

CREDIT INSURANCE:

Definition:

  • Commercial coverage against losses resulting from the failure of business debtors to pay their obligation to the insured, usually due to insolvency. The coverage is geared to manufacturers, wholesalers, and service providers who may be dependent on a few accounts and therefore could lose significant income in the event of an insolvency.

Information provided by Insurance Information Institute

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