Purpose

The purpose of the production risk insurance is to offer producers protection against potential payment problems on the buyer side during the production period.

This agreement provides additional protection when you are already using other KredEx services.

The insurance covers your company’s expenses on performance of agreements concluded with a buyer in a foreign country if you are forced to suspend production of ordered goods or performance of contractual obligations because the buyer was unable to accept the ordered goods or refuses to do so due to commercial or political risk becoming realized.


Benefits

  • Allows you to expand to new and unknown markets
  • Allows you to expand insurance protection
  • Allows you to cover buyer payment risks when carrying out a resource-intensive project
  • Allows you to cover buyer payment risks when carrying out a resource-intensive project
  • Covers buyer payment risks right from the start of production
  • Indemnifies you if the buyer payment risk becomes realized during the production period

For who?

  • established company
  • exporting company

Service is suitable if

  • your production period is long and resource-intensive
  • you wish to lower the buyer payment risk right from the start of production

Important conditions

  • The production risk insurance can be combined with other services, such as the supplier credit insurance
  • The indemnity is paid for insurance events – these being commercial or political risk during the production period
  • Insurance cover up to 95%

The insurance process

The production risk insurance can be combined with other services (such as the supplier credit insurance). Fill in the necessary insurance forms and email them to krediidikindlustus@kredex.ee. If you have any questions, contact our account managers.

Together with the insurance offer, we will make you an offer for additional protection against production risks.

Once you have agreed on the conditions with the exporter and the buyer and the offer is suitable for us, we will sign the insurance agreement and you will receive the invoice for the first premium.

The production risk protection is listed separately in the insurance agreement.

If you learn of a possibility that you will incur a loss, notify us immediately by email at krediidikindlustus@kredex.ee or using the payment problem form.

Fill in the claim form, appending/attaching documents that substantiate the loss.

Important: The right to file a claim arises after an insurance event, such as the bankruptcy of the buyer during the production period.

We will make a decision on the claim within one month after receiving the application supporting documents. We will communicate our decision to you in writing.

Contact us

Anneli Liinat

Client Manager
anneli.liinat [at] kredex.ee

Gert Veerpalu

Client Manager
gert.veerpalu [at] kredex.ee

Külli Saarepera

Client Manager
kylli.saarepera [at] kredex.ee

Before signing the contract, check the terms and conditions of AS KredEx Krediidikindlustus and, if you have any further questions, contact our specialists.