Typical Bank Loan Insurance (Credit Insurance)

Insurable Loan Types and Transaction Characteristics

The "Business Advantage Credit Insurance" Program

A.     Loan Types-  Request Flexible Business Advantage Credit Insurance Program to Customize the Loan Type.

1.  Standard Account Receivables Revolving Lines of Credit Insurance.

B.     
2.  Extended Accounts Receivables Credit Insurance Program. Enables loan terms up to 2 years. Longer term Credit Insurance Program may be available on an exception basis

C.     
3.  Contract Deposit Credit Insurance provides insurance protection against default, for "Contract Deposits" during an extended term manufacturing or service agreement. 

D.     
4. Work-in-Process Credit Insurance provides insurance protection against default, for the cost of Work-in-Process covered by an Insurance Contract, pursuant to which a manufacturer is performing a manufacturing process.

E.     
5. Policy may provide for up to 100% insurance protection, when combined with other forms of risk sharing.

F.      Note: Policy Term and Loan Term(s) - Business Advantage Credit Insurance enables the policy term to be either 1 year or 2 years. Policy can be issued with  "Non-Cancellable Credit and Country Limits.

1.       Short Term –  Rolling 30 to 60 days – Most common transactions are collateralized by Accounts Receivables.

2.     Extended Term Loans – Up to 2 or 3 years, longer terms may be available too.

B.     Collateral

1.     Accounts Receivables – May be used for both Short Term and Intermediate Term Loan  Credit Insurance.

2.      Equipment

3.     Construction Projects Receivables; ie. Bridge, tunnel, highway, development.

C.     Credit Form Extended by Borrower to Third Party Debtor

1.      Loan Note or Agreement, collateralized by receivables or other asset when available. – Most frequent.

2.     Lease – Infrequent.

D.    Bank Credit Insurance Form.

1.       Policy Issued Directly to the Bank – Available through Business Advantage Credit Insurance Program.

2.      Bank Listed as Loss Payee on borrower’s credit insurance policy – more common. Also, available with Business Advantage Credit Insurance Program.

E.     Geographic Availability  - Both domestic and export/import transactions are customary.

1.       USA

2.      Approximately 50 countries.

F.     Borrower Types

1.       Private entities. Typically corporations or limited liability companies (LLC).

2.      Public entities. Both national and local governments will be considered for coverage in various parts of the world.

Greenpoint Ageny, Inc. and Cover Agency, Ltd. Websites:

FidelityInsurance.biz

HealthProvidersInsurance.com

CreditInsurance.bz

BankLoanInsurance.net

ProfessionalLiabilityInsurance.cc

HomeOwnerWholesaleInsurance

EmploymentPracticesInsurance

TransactionInsurance.net

BusinessOwnersInsurance - BOPS

WholesaleInsurance.us

Critical IllnessInsurance

LongTermCareInsurance

Environmental Pollution Insurance

Inland Marine, Ocean Marine Cover

Motor Truck Cargo Insurance

ProductRecallInsurance

CommercialUmbrella, ExcessLiabiity Cover


Greenpoint Agency, Inc. and Cover Agency, Ltd Products and Program Links:

Health Providers Industry Insurance

Bank Loan Insurance 

Business Overhead Expense Cover

Lower Cost Business Owners Packages 

Commercial Real Estate

Comprehensive Liability Insurance

Contaminated Products

Contractor Insurance

Construction Insurance

Subcontractors Insurance

Trade Credit Insurance

Structured Credit Insurance

Critical Illness Ins.

Data Security Cover

Directors & Officers Insurance

Disability Income Ins.

Distributors, Wholesalers Insurance

Employment Practices Liability Insurance

Environmental, Pollution Insurance

Excess Liability Cover

Excess & Surplus Lines Insurance

Fidelity Insurance
Crime Insurance

Garage Liability Ins.
Garage Keepers Liability
Tow Trucks

Home Insurance

Import, Export Cover

International, Multinational Cover

Kidnap, Ransom, Extortion Insurance

Landlord Lessor Property & Liability

Long Term Care Ins.

Lower Cost Lawyers Malpractice Cover

Other Malpractice Ins

Professional Liability Ins 600 + Classes

Manufacturers Cover

Medical Facilities & Hospitals Insurance

Merger & Acquisition Insurance
Transaction Insurance

Ocean Marine Shipment
Inland Marine, Motor Truck Cargo

Political Risk Insurance

Property Insurance

Retailers Packaged Ins.

Small Business  BOP Cover - Lower Cost!

Surety, Performance Bonds

Tank Safe, Pollution & Environmental Cover

Trucks, Commercial Vehicles Insurance

Vacant Properties
Landlord's, Lessor Cover

Umbrella Liability Insurance - 

Wholesale Insurance for
  P and C Brokers

Many Additional Types of Insurance - Ask Us!