Frequently asked questions

Credit insurance protects your company against the risk of non-payment caused by a variety of events. With credit insurance, if your customer doesn’t pay, KUKE will. Credit insurance will help your company maintain proper liquidity and manage credit risk as you also receive additional services: assessment and ongoing monitoring of the creditworthiness of your customers, debt  collection free of charge, compensation should the debt collection prove unsuccessful.

The cost of credit insurance is determined individually. The insurance rate and premiums will depend on several parameters: the sales volume, the geographical directions of sale, the sector, the customer structure, the payment dates, and the history of cooperation between your company and your recipients. Contact our sales team to get a calculation of the costs of the insurance.

In the case of the Europolicy and the Policy Beyond Borders, you can calculate the insurance costs on your own.

We know from experience that credit insurance not only supports but also puts in order all the sales and receivables management processes within a company. Many of the tasks that your employees would normally have to deal with (e.g., assessment of the financial credibility of your customers and commissioning and management of debt collection) are shifted to KUKE.Once the insurance policy is concluded, we provide you with an online tool that facilitates the management of your insurance agreement. With KUKE Extranet you can submit turnover reports, manage your portfolio of insured clients, as well as request and monitor debt recovery proceedings.

Yes, you can insure your receivables both if you’re selling at home and abroad.

Every company, no matter how small, can take advantage of credit insurance provided by KUKE. Forecasting future cash flows is key for every company, no matter how big or small, and smaller firms are particularly at risk of payment gridlocks. Sometimes, even one unpaid invoice can compromise the financial liquidity of a small business. Credit  insurance will provide your company with the security it needs.

We provide a comprehensive offer and choosing the best solution for your business depends on the size of your company, its business sector, payment terms offered to your customers, and the geographical distribution of sales. Our sales team will help you tailor the insurance to your specific business profile. Contact our sales team directly or call our helpline at: (+48 22) 108 99 70.

Your clients may well be reliable and trusted partners but despite even long-lasting commercial relations, you can never be sure that you know everything about their business. Every business can encounter problems with their own customers or suppliers, which may affect the timely repayment of commitments in respect of your company. By the time you get wind of their problems, it may be too late to prevent losses. Credit insurance will protect you against the consequences of the financial straits of your clients.

Our analysts continuously monitor the financial standing and payment morale of your clients. You will be notified whenever the financial situation of your customers deteriorates or when they stop meeting their payment obligations towards other businesses. Keeping track of the financial condition of your clients and assessing their insolvency risk requires substantial efforts and outlays to collect the necessary data. Thanks to credit insurance you will no longer have to deal with these costly, time-consuming and labour intensive analyses on your own – KUKE will handle everything for you.

A decision by KUKE to refuse insurance cover for your client means that there is a high risk of non-payment. In our assessment, you should not engage in sales under a credit terms with  this particular buyer.

The maximum payment term (credit term) that you can insure depends on the insurance solution selected by you. The maximum deferred payment term for supplied goods or rendered services cannot exceed a period of two years in most solutions.

You can notify your clients of having credit insurance with KUKE. This often has a disciplinary effect towards buyers and improves the timely collection of receivables. Your customers will know that a specialised financial institution will be handling any possible debt collection. This is a signal to them that you have implemented professional credit risk management procedures in your company. However, should we have to contact your customer, we will not inform them that you have the insurance cover unless we receive your prior consent to disclose this information.

The insolvency of your customers may negatively affect your cash flow and make it difficult to repay bank loans on time. Credit insurance reduces this risk. You can request KUKE to pay out future compensation to the bank (i.e., establish a cession for the payout of compensation). This can help your company to obtain financing and translate into more favourable financing terms.

Force majeure risk includes events like, e.g.: war, civil war, insurrection, revolution, riot, long-lasting mass strikes, earthquake, volcanic eruption, typhoon, flood, and catastrophic fires.

Political risk refers to actions and decisions by a government, or other state body, in the country where the export contract is being carried out, that are difficult to foresee or predict. Such events include e.g. the announcement of a universal payment moratorium, inability to transfer receivables, or other changes in legal regulations that prevent the contract from being performed.