Each contract is specific, a tailor-made approach is necessary in order to cover all your risks
What are the 4 major types of coverage?
Payment guarantee : covers the risk of non-payment of your commercial transactions, regardless of the risk event (payment default, insolvency, abusive breach of contract, political decision, etc).
Supply chain guarantee : covers domestic or expert transactions against the risks arising from any definitive termination of a contract in the event of a contract interruption, a pecuniary loss following non-payment, the non-transfer of receivables or even an abusive call on bonds.
Investment guarantee : covers losses on your assets abroad as a result of political decisions (embargo, boycott, withdrawal of licence, non-convertibility/non-transfer of foreign currencies, confiscation, expropriation, nationalisation, dispossession, selective discrimination, etc.), arbitrary decisions by a public entity (non-compliance with contractual obligations, arbitration sentence, abusive breach of contract, etc.) and certain physical losses (riots, popular movements, revolutions, changes of power or government, civil or foreign wars, etc.).
Financing guarantee : intended for banks and financial institutions which risk suffering financial losses as a result of political events or decisions or default by private debtors under the terms of pre-financing, financial loans, confirmation of letters of credit, repurchase of receivables, project financings, etc.
What is the role of Diot Credit ?
• Analysis of the transaction and the contracts,
• Analysis of the risks: debtors, country, political, etc.
Negotiation and implementation of the insurance policies
• Request for proposals from the French or London markets or in the country of the transaction,
• Negotiation of the terms and conditions of the insurance policy and syndication of the risks if necessary,
• Drafting the policies,
• Implementation of the cooperation agreements between insurance companies.
During the term of the policy
• Regular monitoring of changes in the risk and providing information to the insurance companies,
• Updating of the policies or extension of the coverage,
• Monitoring and provision of information concerning changes in the market and the risks,
• In the event of the threat of an insurance loss: organisation and management of the communication between the insured and the insurer on the one hand and between insurers in the event of syndication on the other hand,
• In the event of an insurance loss: management of the indemnification process and compliance with the deadlines.