Dubai based National General Insurance Co. (NGI) offers Credit Insurance

According to senior officials of NGI, the cover provided under this class of insurance provides protection against customer defaults and failures to pay outstanding balances from the sale of goods or the provision of services.

The Credit Insurance Policy is an assurance that the policy holders will be paid, subject to terms and conditions of the policy, for the merchandise shipped and services rendered to their customers. Credit Insurance can strengthen a Company's balance sheet and enhance their borrowing power and also it can help companies to grow their business.

Mr. Khalid Bin Kalban, Chairman of NGI, said: "This product would target the traders in the country to achieve a competitive edge in the domestic and international markets with the protection provided under this policy facilitating sales without obtaining the conventional financial guarantees from their buyers."

Dr. Abdul Zahra A. Ali, General Manager of NGI added that "The major benefits of this policy include protection against customer bankruptcy and insolvency, a resource for credit intelligence, increase in sales, enhanced borrowing power for the policy holder and services related to collection of past dues. NGI also offers insurance protection in respect of Factoring offered by Banks."