Product Description
Credit insurance is protection provided by an Insurance Company to a Bank/Financial Institution against the risk of the Debtor’s failure to repay credit facilities or cash loans such as working capital loans, trade credits and others provided by the Bank/Financial Financing Institution.
Risk Covered
Car Insurance provides two types of coverage, namely:
Comprehensive
- Covers total or partial loss and/or damage to motor vehicles;
- Guarantee the Insured’s legal liability for losses suffered by third parties which are directly caused by motorized vehicles.
Total Loss
- Covers any loss of motor vehicle if repair costs exceed 75% of market value or are lost due to theft.
Clients
- individuals
- companies that own operational vehicles
- taxi companies
- motor vehicle fleets
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