Complementary insurance to protect against preferential payment
Preferential payment claims involve high risks. Counter this risk at an early stage by comprehensive protection.
Characteristic of Preferential Payments:
- For existing and new clients
- Complementary insurance in addition to your basic credit insurance contract
- Additional cover between € 250,000 and € 3,000,000 per insurance period
- We will cover the loss incurred through preferential payments
- Liability may even be extended to retrospective cover for payments already made prior to the inception of the insurance cover against preferential payment claims
- Basic requirement for compensation from supplementary cover: valid cover for the included debtors
- Preferential payment cover easy to integrate in your existing credit insurance contract
- Retroactive cover for up to 10 years
- Not just claims payment, but also contribution to legal costs
- Amount of supplementary cover easy to select - risk-adequate pricing
- Not only for Austrian debtors, also available for many major buyer countries
Strong cover - Even Retrospectively
Increasingly insolvency administrators demand the return of money already paid to suppliers. We provide reliable protection against preferential payment claims and we contribute to your cost of defending the claims of the insolvency administrator.
Our solution does not only cover future cases, but also paid invoices of the past. Should you be obliged to return the payment despite your efforts to defend the claim, we will cover the loss incurred.
… both flexible and beneficial
We offer our cover against preferential payment claims as a supplement to our existing Coface credit insurance contracts.
You select your additional cover between € 250,000 and € 3,000,000 per insurance period according to your needs. The price depends on the selected maximum amount of cover and the size of your company.
Under the insurance against preferential payment claims we cover one or more claims per insurance period – up to the selected maximum amount. Liability may even be extended to retrospective cover for payments already made prior to the inception of the insurance cover against preferential payment claims. You may use one third of the selected maximum amount for such cases.
If you have been a client of Coface for more than 3 years, we will extend our retrospective liability period to the duration of our contractual relationship – 10 years maximum. Even for you as a new client we cover payments back as far as 3 years.
Debtors from the EU, Switzerland, Norway, Canada and the USA may be included in the insurance cover for preferential claims (as far as they are included in the credit insurance contract).