Jointly owned by some of South Africa`s superlative insurers - Mutual &
Federal Insurance Company Limited, Santam Limited and Munich Reinsurance Company
of Africa Limited, in association with the Industrial Development Corporation of
South Africa Limited - Credit Guarantee Insurance Corporation Ltd is a
specialist insurance underwriter focusing exclusively on credit insurance. The
company began in 1965 and has been going from strength to strength since then.
Credit Guarantee Website
On the Credit Guarantee website you can read up on their products and download related forms.
The basis of Credit Guarantee Insurance Corporation is providing
credit insurance to companies who choose to insure themselves against the risk
of financial losses that would lead to the compromising of their bottom line.
Such risks covered by Credit Guarantee Insurance Corporation include delayed
payment and payment defaulting by debtors, or the event of debtors going
bankrupt. Also covered are cancellation of contracts, export risks and political
risks of doing business in various areas.
Credit Guarantee Insurance Corporation has its own unique strength in
business, particular with this kind of risk cover. The company keeps broad and
deep data records for analysis and interpretation and generates accurate and
up-to-the-minute market intelligence which enables it to make accurate decisions
based on solid information.
Credit Guarantee Insurance Corporation`s bundle of products are sub-divided
into 3 main categories. First off is the short-term domestic credit insurance
option, planned to protect a company against non-payment for goods and services
provided. Then there is the short-term export credit insurance choice, covering
exporters against payment default losses incurred while exporting goods or as a
result of certain political developments. And then there is the special export
credit risk insurance that covers other export risks.
The company also offers other services such as investigations of credit
risks, surveillance of debtors, and a debt recovery service. Auxiliary services
provided by the company include research reports on various countries looking at
their credit risks and economic reviews. The company also provides policy holder
training courses and other services to the brokering community.
- Domestic Credit Insurance
Including the Domestic pre-delivery, Domestic post-delivery and Domestic
Business Builder plans, Domestic Credit Insurance protects against
non-payment of debts due to insolvency or protracted default.
- Short-Term Export Credit Insurance
Including Export Business Builder, Export Pre-shipment and Export
Post-Shipment, this plan covers exporters against loss of proceeds from a
transaction, from, for example, specific political issues or payment
BEE AND CSI INFORMATION
The company has a BEE `A` rating of 79.5%.
Its corporate responsibility programme covers education, training, job
creation, arts & culture, health, sports, and more, with the majority of the CSI
budget allocated to bursaries offered to internal and external candidates
studying credit management or export management. This is with a view to getting
more talent into the industry.
Postal Address: P.O.Box 125, Randburg, 2125
Tel: 011 889 7000
Fax: 011 886 1027