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Domestic Credit Insurance
This provides coverage for credit sales within the national market, to legal or natural entities which carry out commercial activities. The Insured's domestic credit portfolio is divided into two types of clients, based on the limit amount of credit awarded to each one, establishing a division that will depend of the spread of the portfolio, which is generally fixed at UF 500.
Minor or non nominated clients are those whose credit limit is lower than the established segmentation (i.e., UF 500.). They are included in the policy by means of an Automatic Approval Line system, - SAAL., which allows our Insured to obtain instant replies through the technological platform Continental ExtraNet  , providing increased agility to their Sales and Finance departments.
Nominated Clients are those whose credit limit is in excess of the separation established in the policy (i.e., UF 500.), which will be approved, limited or rejected, after exhaustive evaluation by an expert credit analyst.
We have prepared the largest Chilean risks data base in the world, providing an exchange of information regarding payment behaviour of a client with respect to each one of his suppliers, which is an important advantage for the Company and highly valued information by our insured clients.
Export Credit Insurance
This provides coverage for credit sales carried out in the international market (exports under credit conditions), in other words, it covers the Commercial Risk of Exports.
The Export Credit Insurance contributes to the increase of the exporters' sales and incursion into new markets, as it allows them to export under a minimized and defined risk, supported by an experts' credit risk evaluation and the periodic follow up of the situation of clients and collection of outstanding payments that might occur, all of which become more relevant abroad, considering cultural, language and legal differences.
On the other hand, the Export Credit Insurance contributes to the development of competitive advantages as it allows exportations to new and existing clients under previously evaluated credit conditions without the necessity of payment guarantees, such as Letters of Credit, without time consuming dealings and resources with respect to clients that do not qualify financially for credit allowance.
Furthermore, foreign sales encounter a non payment risk due to political decisions or situations, or in other words, losses caused by non payment of credits not attributable to the buyers' insolvency. The Insured can therefore purchase a special additional clause covering Political Risks (CAD 4.05.038).
The following contingencies are respectively considered:
- War, civil war, revolution, or occupation of territory by a foreign power.
- Expropriation or confiscation, requisition of merchandise.
- Delays in transference of foreign currency due to lack of or to governmental instructions.
- Cancellation of export or import permits.
- Unilateral cancellation of contracts by the importers government.
It is also possible to provide coverage for credit sales made by companies established or domiciled out of Chile, or to affiliates of our insured, who wish to cover their exports or sales in the local market.
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