Almost all General Insurance companies in India like United India, Tata AIA, Iffco Tokio etc provide credit insurance.

Credit Insurance is the best way to manage credit risk in a cost effective way for any organization. It provides financial assistance during the time of any credit risks and overdue payments during domestic trade or exports. Before granting covers for the insurance various terms and conditions need to be fulfilled.
Credit insurance generally covers following risks:
Commercial Risk
• Insolvency of the buyer
• Non payment by the buyer – protracted default
Political Risk
• General moratorium on payment by the government of buyer’s country
• Cancellation of import license
• Political events, economic difficulties, legislative or administrative measures preventing payment
• Military or civil war, revolution, riot or insurrection
• Non payment by government buyer
• Government decision preventing performance

What is the benefit of Credit Insurance?
 Credit insurance offers a number of benefits, which are available in the form of
• Credit Risk Mitigation
• Efficient collection of debts
• Complements credit management of the seller
• Enables development of new markets against protection provided
• Expert advice since buyers are analyzed for credit worthiness.

Who is it for? 
 Any established Company with a selling network spread all over the country and/or abroad can avail benefit of this specialized Insurance. This Policy is designed particularly for those companies selling goods or services on credit to the buyers in India/ overseas. This policy renders coverage to the companies for outstanding receivables which are approved within credit terms. This policy thus protects the insured person against the nonpayment risks from the buyers.

Approximate cost of this Insurance? 
The premium is expressed as a rate in % of the insurable turnover and pricing depends on the following factors pertaining to the risk:
• Extent of coverage sought
• 70% / 80% / 90% of the individual bill
• Risk rating of business sectors
• Countries included in the portfolio
• Insured turnover.
• Trade losses of insured.

Claim procedure under this Insurance?
Documents required to establish the loss as claimed by the Insured are to be submitted apart from other documents as required by the Insurance Company concerned.