Specialised insurance

Financial risk insurance

Financial risk insurance

This category includes

customs debt insurance, which is arranged in the event of debt due to non-payment of duties, taxes and fees. Insurance then acts as a guarantee, which is a situation where the insurance company acts as the guarantor of the insured party in relation to the customs authorities. In such cases, the insurance is an alternative to a bank guarantee.

Another type of financial risk insurance is contract guarantee insurance, which is arranged for cases where the insured party fails to fulfil obligations ensuing from a contract for work, or fails to conclude a contract for work after a succeeding in a tender procedure. The insurance company again acts as a guarantor of the insured party.