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Excess of Loss Credit

Credit limit cancellations are not only frustrating for a credit manager but can also impact a business's bank financing. Tokio Marine HCC - Credit Group is a leading provider of non-cancellable excess of loss coverage protecting account receivable from non-payment due to commercial or political events.

Highlights

  • Non-cancellable limits
  • Discretionary credit limits with the policyholder making a majority of the decisions
  • Typically 90% indemnity but can be higher based on level of deductible
  • Borrowing base enhancement with insurance being viewed as a form of collateral
  • No buyer limit or collection fees
  • No cap on "DCL" losses
  • Minimum premium of $25,000
  • Multi-year policies
  • Broker commission of 20% for the first year, 17.5% for each corresponding renewal
  • Pre-shipment, advance payment and consignment coverage available

Best For

  • Manufacturers
  • Trading companies
  • Service providers
  • Wholesalers Distributors

Summary of Coverage

Excess of loss policies are written for companies with proven credit management capabilities. Coverage generally includes a first-loss deductible which can be adjusted to meet a policyholder’s desired structure and target premium. Coverage is available to insureds on a portfolio or select key accounts basis, protecting a company from catastrophic loss relating to large credit exposures. All goods and services are eligible for coverage with no limitation regarding where the product is manufactured. Premium payment options are available based on sales, account receivables, approved credit limit or a fixed amount.
  • US$50 million maximum line for any one risk
  • Admitted in all 50 states
  • Worldwide scope
  • Responsiveness of a dual underwriting platform with experts in New York and London 
  • Emphasis on building a customer relationship and a long term partnership
  • Superior claims management processing and customer service

Related Products

Why Tokio Marine HCC?

Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance. Our products and capabilities set the standard for the industry, and many of our almost 3,000 employees are industry-leading experts. Each of our highly entrepreneurial businesses are equipped to underwrite special situations, companies and individuals, and acts autonomously to deliver effective solutions. 
financial strength

Our financial strength ensures our clients will always be protected.

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holistic portfolio

Our holistic portfolio of products includes more than 100 classes of specialty insurance

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tokio marine

Tokio Marine HCC is part of Tokio Marine, one of the largest P&C insurers in the world

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