The financial risk insurance

The insured: a legal person, which has the capacity of Debtor in a basic Commercial Contract.

Insurance beneficiary: a legal person, which has the capacity of Creditor in the respective Contract.

Covered risk: the failure to pay at the due date of the debts to the Creditor.

The types of insurances and securities:
- Supplier Credit payment securities- bidding securities - advance sums payment securities  

Credits insurance


1. Insurance of the risks arising from the Leasing Contracts concluded by the Leasing Company with the users ? The financial risk insurance consists in the coverage of the risk of:    
- failure to pay the leasing instalments  and /or the residual value upon the contractual due date- failure to gain possession following the failure to return the good by the user? The insurance for general risks / damage and theft of the leasing object.   

2. Insurance of the risks arising from the commercial contracts (Sale – Purchase / Distribution / Consignment Contracts) with the payment integrally upon a due date or in instalments

The financial risk insurance consists in the coverage of the financial losses which the insured documents following the failure to recover the debts in total or in part, following the Creditors’ inability to pay or bankruptcy.   

    

The insurance for general risks of the goods which make the object of the respective contracts.

 

3. Insurance of the risks arising from the bank and /or commercial credit contracts which have as goal the purchase by natural persons or domestic goods, cars or residences.   

- the insurance or the financial risk consists in the coverage of the risk of the client’s failure to refund the credit upon the contractual term; - the insurance for general risk of the goods which make the object of the credit. 
  


4. Insurance of the securities:


• Supplier Credit payment securities• bidding securities • advance sums payment securities

Insurance against the financial losses from insured risks

- in the case of the Sale – Purchase Contracts for the long-term use goods

- in the case of the Consumption Credits Contracts for the purchase of long -term use goods. 

? Failure to pay the instalments

? Failure to pay royalties
- in the case of the Leasing Contracts for long-term use goods

? Failure to pay debts
-in the case of the Distribution / Commissioning Contracts fro the long-term use goods

? Financial losses from insured risks (business interruption)

? Insolvability or bankruptcy of the tourism offices


? Insurance of the valuables for the cases of theft by heist action on the couriers. . 

Bank credits insurance


Applicability


This type of insurance strictly applies for the insured such as bank and financial institutions:   commercial banks, savings bank, financial companies. The insured risk refers exclusively to the financial losses which the insured would suffer following the certain payment incapacity and /or insolvability proved by documents of the Debtors, legal or natural persons. 


Insured risks

By this policy, one covers the pecuniary claims of the insured, arising from the risk of failure to cash in the credit installments by the insured from their Debtors, as a result of their inability to pay proved by legal documents, respectively, the following afferent installments:       

- the credits granted to the natural and legal persons for the purchase of vehicles;


- the credits granted to natural persons for the purchase / construction /repairing of residences;


- the credits granted to natural persons (producers, importers, sellers, dealers) for the current production and retail sale activity;


- investment credits granted to legal persons for the rigging, space arrangements, machine, appliances, fixed means acquirement;


- credits granted to natural or legal persons for the purchase of long-term use goods.  

The agreement regarding the conclusion of the facultative insurance for the credit granted for good sold in leasing


Applicability
Any Romanian or foreign legal person with the capacity of Locator /Financer authorised under the law to conduct leasing activities on the Romanian territory. 

      

Covered risks
The insurance covers the financial risk for thee failure to pay the leasing installments afferent to the goods sold in leasing by the insured, in the case that the user does not pay upon the due date the financial obligations undertaken under the Leasing Contract.

     

Validity
The insurance agreement with the leasing Company is concluded for a 12 month period with a possibility of the automatic extension thereof.  All the Leasing Contracts concluded by the insured during the agreement validity period are covered for the risk of failure to pay.  

The insurance regarding the refunding of the repatriation expenses and /or of the amounts paid by the tourists, in case of the tourism offices insolvability or bankruptcy


The object of such insurance is coverage by the insured of the risk for failure to pay de debit which you have towards the tourists (the Insurance Beneficiary), on the grounds of the Selling Contract for the tourism service package concluded with them, in case of the insolvability or bankruptcy of the agency you own. 

   

The complex bank bbb (bankers blanket bond) insurance policy 



This policy covers the following risks: employees’ dishonesty, values and goods of the clients in bank, transitory values and goods, forged checks, forged securitiess, forged money, damage in the headquarters and inner goods. 

  

The safety deposit boxes insurance policy


By this policy, one covers the risks of destruction, disappearing or loss regardless of the cause, of any securities, value titles, certificates, jewels, coins or other goods or any other securities, other than cash money, placed inside the bank safety deposit boxes.   


The insurance policy of money and securities in the safe boxes, bank treasures and during transportation 



Applicability
This insurance covers the damage for the loss of money and of other values (gemstones, precious metals bars, securities, stamps, etc.) placed in the insured’s safe box or during transportation performed by adequate means of transportation.


     The insurance also awards compensation for the expenses incurred for the repairing and replacement of the safe boxes or safe deposit boxes within the vehicles which have made the object of a theft or attempted theft.