Commercial Credit Insurance
Coverage for an insured firm if its business debtors fail to pay their obligations. The insured firm can be a manufacturer or a service organization but it cannot sell its products or service on a retail level to be covered under commercial credit insurance. Under this form of insurance, the insured firm assumes the expected loss up to the retention amount and the insurance company pays the excess losses above that amount, up to the limits of the credit insurance policy.
Popular Insurance Terms
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Sum of money paid on the principal amount of money invested or loaned. ...
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Rejection by an insurance company of an application for a policy. ...
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HEALTH MAINTENANCE ORGANIZATION that restricts to a relatively small amount the number of medical providers from which an HMO member may seek services. Usually, HMO members may select the ...
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