With more than six decades of service, FCIA’s experienced team of credit underwriters have a proven track record in delivering tailored trade credit insurance and political risk solutions to address the needs of companies and financial institutions involved in global trade.
- Broad Product Offering: Our comprehensive range of products caters to diverse trade credit needs.
- High-Quality Policy Wording and Flexibility: We provide meticulously crafted policies tailored to your specific requirements for companies, traders, banks/ financial institutions.
- In-House Claims Adjustment and Timely and Fair Payments of Claims: Our dedicated claims team ensures efficient processing and timely settlements.
- Robust Underwriting Team: Our large team of underwriters maintains consistent credit assessments across all economic climates.
- Insured and Broker Portal: FCIA insureds have access to their policy documents, can view buyer limits, make online requests to add or change a limit or file claims.
Our Trade Credit Insurance Products
- Coverage on export and domestic sales
- Multi-debtor or single buyer policies (Click here for application)
- Non-cancelable* limits and types Pay-As-You-Go policy types
- Specialty coverages on contracts to meet unique credit needs
- Short or medium term trade transactions up to 7 years
Trade Credit Insurance Frequently Asked Questions
What is Trade Credit Insurance and Why Do I Need It?
Trade Credit Insurance (TCI) or Accounts Receivable Insurance can be a cost-effective mechanism for transferring nonpayment risk. Many commercial buyers request credit to make large purchases of goods or services. However, extending credit puts suppliers at risk of losses if buyers don’t repay.
Who Buys Trade Credit Insurance?
Whether you are a multinational company, middle market entity, or small business, selling on credit terms can expose your company to financial losses.
Trade Credit Insurance compensates policyholders for unpaid debt up to the limit of liability, enabling confident repayment terms to new or existing customers.
It may also help access to preferable financing terms from your bank or financial institution.
Why Buy Trade Credit Insurance?
- Nonpayment by debtors can result from commercial events (e.g., insolvency, protracted default).
- International transactions may face nonpayment due to disruptive political events (wars, government interventions, currency issues).
- FCIA Trade Credit Insurance policies cover both commercial and political nonpayment risks.
What is the Cost of A Trade Credit Insurance Policy?
Generally, the cost of a Trade Credit Insurance Policy is a fraction of a percentage of sales depending on the volume, loss history and risk.
Are There Any Other Fees Involved?
There are no hidden fees with FCIA policies. FCIA does not charge for buyer’s underwriting or application fee.
Political Risk Insurance
Operating in foreign countries, especially in emerging markets, can expose your company to additional risks related to unpredictable foreign government acts or political events. FCIA offers an array of political risks coverage that can help protect your investment in foreign countries. These policies insure against losses due to named political events related to Equity investments, shareholder loans and fixed and mobile assets.
*Policies may be cancelled for non-payment of premiums.
Access Your Policy
Trade Credit Canada
Major Country Risk Developments
FCIA publishes a monthly paper, FCIA Major Country Risk Developments. It offers economic and political intelligence compiled and interpreted by Byron Shoulton, FCIA's International Economist. It provides FCIA's views on trade related developments as well as the political risks associated with the countries being reviewed. The paper is updated monthly and is distributed to FCIA policyholders, brokers, loss payees, and other interested parties.
Financial Strength You Can Count On
When you buy insurance, you are buying the promise that an insurance carrier can meet its obligation to you. See why you can count on us to keep our promise to you.