Keywords
insolvency risk
protection against defaulting debtors
credit cover
under trade cover
sales insurance
export credit insurance
How to Cite
Abstract
Credit insurance is a damage insurance in which the insurance Company covers the risk of insolvency of a debtor of the insured. The intention with this insurance is to protect the insured against the risk of default on the sales of goods or services it performs on credit, either local or export operations. Through this insurance, the insured mitigates the risk of non-performing debts and in turn increase and flexible their credit sales.
Credit insurance is a somewhat atypical insurance, but its relevance has gained strength in recent years. This insurance is governed by the statutory provisions that govern the general insurance contract.
Given the level of growth of debts in recent times which implies an increase in the risk of insolvency of debtors, credit insurance has become a very good option by entrepreneurs that want to avoid the direct retention of the insolvency risk of their debtors.
Although, credit insurance is not explicitly regulated in the Commercial Code, it is an insurance contract and therefore must have all the essential elements to be born to the legal life, which implies that is governed by the general principles and rules of insurance contract such as the principle of good faith, the compensation, among others.
In this work, we had made an analysis of different arbitration judgment, that have been handed down over the years in order to know the position of the Court of Arbitration against the credit insurance, and learn more about this insurance which is done little information.
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