Credit insurance

Credit is the system of selling goods or services without immediate payment of money, in the hope that the buyer will pay what is on the agreed dates, hence the risk facing the seller in each transaction or the process of payment, because when it is time to pay to pay The buyer may not be able or willing to pay what he has. This buyer may be insolvent, bankrupt or liquidated, so the subject of credit insurance is the risk of non-payment to the seller. Under the credit insurance, the insurance company Payment to the seller (to the creditor) if he fails to collect debts from buyers (debtors)

Credit insurance is the insurance of creditors that protects them if they can not collect their debts. The term "life insurance" refers to insurance that pays the remaining balance of the loan to the creditor if certain events such as death or disability

lender mortgage insurance LMI / Private Mortgage insurance PMI
Is the insurance that protects the lender and not the borrower in case the current debtor defaults on repayment of the loan, and the mortgagee (lender) fails to recover the entire loan and the cost of the loan after the expropriation of the encumbered property and then sell it,

Therefore, this insurance is additional insurance required by the lender (creditor) of the borrower who gets a loan of more than 80% of the value of the house up to 100% of the value of the house, and does not pay 20% down payment (Introduction) Down payment of the value of the house is required of him To pay the PMI and once the loan amount is equal to LTV80% or less, this insurance is no longer needed

 In most cases, the mortgage insurance is incorporated into the loan amount and is paid by the lender. Therefore, the mortgage is called Lender Paid MI. If the borrower pays the premium, the insurance is called the mortgage loan paid by the borrower.

Collateral protection insurance (CPI) / force-placed insurance

Securing the protection of encumbered assets (insurance for the protection of assets secured by the loan) is an insurance covering the collateral assets of the bank or financial institutions that provide the protection of the encumbered property. One-interest insurance / single-interest policy may be an interest When a loan is signed for the purchase of a car or house, the borrower agrees to purchase insurance that will remain in effect for the duration of the loan in favor of the lender in the document as the holder of the right of attachment (on the car or the mortgaged home) ) a lienholder or a mortgagee creditor, , If the borrower does not conclude the insurance policy and does not provide the proof of insurance (document) proof of insurance, it leaves the bank liable to loss, which makes the bank obliged to buy the CPI document and bear the premium on the loan, after informing the customer the need to provide proof of insurance but did not receive In the event of a total loss of the encumbered property, the insurance amount shall be paid to him if the loan is in full, and the borrower shall be covered in the event of partial loss and shall pay the cost of repairs. The CPI document covers only the physical damage of the vehicle

Mortgage insurance / Mortgage redemption insurance /
Mortgage repayment plan / Mortgage protection policy

The mortgage in the countries that apply customary law is the transfer of real estate property or movables from the current debtor Mortgagor to the mortgagee mortgagee under written documents as collateral for repayment of the loan or debt, and the transfer of ownership to the current debtor when the loan is repaid, and the term Mortgage Also to the borrowed money (loan amount) from a building association for example for the purpose of buying a home, but foreclosure in the civil law countries is the right of the creditor to the real estate encumbered and does not require transfer of ownership to the mortgagee creditor

Mortgage Securitization Bond The remaining balance of the loan is paid to the lender (the mortgagee) in the event of the death of the borrower (s), or the loan payments are paid when the due date is due to the lender in the event of the borrower's default or in the event of the borrower's death, Life insurance or health insurance

The mortgage protection policy is a decreasing term assurance that guarantees the payment of the remaining balance of the loan in case of the death of the borrower. The loan is known to decrease as much as the borrower pays annually or periodically

Mortgage repayment plan is any life program used to repay the mortgage to the mortgagee

Mortgagee interest insurance MII

The secured creditor may seek to guarantee the insurance of the loans granted to the shipowner. This guarantee is in the form of a letter of undertaking in which the ship's insurer undertakes certain obligations to the mortgagee, namely, to pay compensation to him under the ship's document in case of total loss or If the loss exceeds a certain amount, but the insured under the vessel's document and the excess value may refuse to pay compensation for certain reasons such as negligence of the shipowner or breach of the requirements of the document for example sailing the vessel is not navigable, so the pledging creditor wishes additional insurance extra insuran The compensation shall be paid if the insured under the ship's document refuses to pay such compensation. This additional insurance is called the insurance of the mortgagee's interest, namely, contingent insurance (Contingent insurance) in the sense that it is contingent upon the non-payment of the vessel's document and the excess value To compensate, so that this additional insurance responds to the loss payment

- After the insurer (ship owner) sends to the ship's insurer a notice of waiver of the interest (assignment of its rights in the document to the pledge of interest), the insurer of the ship's body sends the pledge letter in favor of the pledging creditor, (Insured / Insured / Pledged creditor), the Insurer of the vessel and the excess value may refuse to pay compensation for the reasons stated above which render the vessel document void, resulting in the creditor losing the loan in case of loss Ship, and therefore the insurance policy of the mortgagee creditor's interest The Trustee shall issue the same as the Insurer and the excess value shall cover the outstanding balance of the Loan (Outstanding Loan Amount) if the Insurer refuses to pay the indemnity under the Vessel's Instrument and the Excess Value, and the Pledgor may take such coverage and carry it to ship owners. Shipowners shall take such coverage in favor of the mortgagee creditor

Mortgage insurance in case of job loss
Many people hesitate to buy a house by financing it with a loan, lest the borrower lose his job, and become unable to repay the mortgage (mortgage loan). The lender will take away the ownership of the house, so this insurance protects the mortgaged home from expropriation. For those who lost their job mortgage payments (mortgage payments) for a certain period of time, for example, may be this insurance for free is called free mortgage insurance in case of loss of employment

Deterioration of stock insurance / DOS
Insurance of storage corruption in refrigerant stores The corruption of goods that have been placed in refrigerated warehouses is covered by the failure of the cooling machines. The accident that leads to the corruption of the stock in the refrigerators must always be an indemnifiable breakdown of machinery. The refrigerant stores are covered and allowed to be compensated first under the machinery failure insurance policy so that the corruption document of the warehouse responds to the damage to the corrupt stock. Therefore, DOS insurance is a supplementary insurance for the insurance of machinery failure.The inventory corruption document does not cover the general power failure or may be covered under certain conditions. The document of stock corruption also covers damage to the stock resulting from leakage of refrigerants.

Title Title insurance
Insurance A guarantee is provided that the documents of ownership of the property have been transferred to the buyer or the secured creditor and are free of any bookings, mortgages or debts. This insurance is issued after the public records are searched at the time of the transaction. This insurance will compensate the buyer or mortgagee If there is a defect in such documents.

The document contains a maximum liability limit that is the price paid for the purchase of the property.

The title document, if it is for the lender, is called the mortgagees title insurance policy. If the homeowner signs it for himself (without obtaining a loan) it is called the owner's title title insurance.

The title deed of the mortgagee is a document that protects the lender from any claim to ownership of the encumbered property. 

This document is required until the loan is granted, so if a person other than the debtor acquires a claim in which he claims ownership of the encumbered property, The insurance company will compensate the lender for any resulting losses.


Property documents are documents issued by the property insurance company to protect the lender from any dispute over the ownership of the insured property. These documents also protect the holder against any losses that occurred prior to their issuance, such as the existence of a forged contract in the series of contracts of transfer from person to A person, for example if the buyer bought a house, then someone succeeded in claiming that his father owned this house, the buyer will lose this house, so the insurance company will defend the buyer in court, too, and the premium document property documents A single premium is paid at the time of issue and the document remains valid until it is b The drug.

Securing a Probable Business Stoppage (Suspended on Standing Condition)

Contingent business interruption insurance


Insurance covers loss of profits to the insured if his clients stopped dealing with him because of an accident, for example, imagine that the insured sells all its products to a particular customer has been a fire in the place of this client prevented him from buying products from the insured, loss of insured depends on Loss of his client.