Which are the insured risks?

The insurance contract only covers insurance events that result from inability to pay and/or certain and documented insolvency. Inability to pay/insolvency of clients is attested by copies of the credit file, insurance policy and loan agreement accompanied by an executive note.

Which is the insurance term?

For each loan agreement the insurance term for the non-payment risk (a period when the insured risk can occur) begins on the day when the Insured grants a credit to microcredit beneficiary and expires on the day of payment of the last installment or maturity as specified in the loan agreement.

What are the features?

· the insurance is meant for credit institutions;

· the insurance contract is concluded for a flow of undefined transactions concluded by the Insured with one or several clients (microcredit beneficiaries) for defined terms;

· insurance premium calculation method: the insurance premium is calculated by applying the agreed premium rate (%) to the insured amount;

· together with credit non-payment insurance Victoria Asigurari also provides accident insurance;

We should mention that the opportunity to conclude such insurance contract and final insurance terms are determined based on analysis of the client’s solvency (insured potential) and specific credit norms.

 

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