Global Risk Policy

Credit insurance developed in partnership with COSEC, which covers non-payment of credit sales of goods and services made in Portugal or abroad.

BPI, in partnership with COSEC, offers various insurance credit solutions . COSEC is the Portuguese leader in credit insurance (according to the Portuguese Insurance Association) and is 50% held by BPI and by Euler Hermes. Euler Hermes is the world leader in credit insurance (according to ICISA – International Credit Insurance and Surety Association), with a presence in 52 countries.

The Global Risk Policy credit insurance has a global principle underlying it. This Policy provides guarantee limitations to all Clients who sell on credit both in the Portuguese market and abroad and such Clients benefit from insurance up to the limits approved by COSEC.

Clients may also increase the coverage granted through the global policy by contracting two additional coverages - Guarantee + and Guarantee ++ - which allow for the increase of business protection in an easy, flexible and transparent manner and which makes risk management broader and more complete.

• Greater security and protection against financial losses (Customer debts);
• Protection of company cash-flow (balance between credit insurance and financial requirements);
• Increase in revenue and profitability;
• Satisfies financial requirements/advance of revenue related to the credit sale of goods and services through suitable risk coverage;
• Better understanding of Clients through such risk analysis;
• In the event of non-payment, COSEC undertakes actions to recover debts, either through supporting recovery prior to the discovery of the incident or in the steps taken after the payment of compensation, in order to enable full recovery of the credit;
• Special pricing scheme conditions for PME Líder and PME Excelência companies regarding COSEC credit insurance for global coverage of the Client’s credit portfolio.

Risks Covered

• Client Arrears, which have lasted for a period longer than the maximum payment conditions defined in the Specific Conditions of the Policy;
• Bankruptcy or insolvency of the Client confirmed by a final and unappealable judicial decision;
• Composition, moratorium or other equivalent measure, when established with the Client and certified within the scope of a judicial proceedings and enforceable before the Insured;
• Client’s insufficiency of funds which has been judicially certified or recognized by COSEC, in particular in the event the Client terminates its activity and it does not have any assets which may be subject to pledge.

This information is provided for advertising purposes and does not constitute a contractual offer; you must read the pre-contractual and contractual information required by law.

Contracting subject to prior approval by the entities involved and subject to the conditions defined according to the risk profile of each operation.

Banco BPI, S.A., Rua Tenente Valadim, 284, Porto, Tied Insurance Intermediary no. 207232431 (registered with the Insurance and Pension Funds Supervision Authority on 31-10-2017 - more details on the registration available at www.asf.com.pt); authorised to carry on insurance business in the Life and Non-Life Branches with the insurers BPI Vida e Pensões - Companhia de Seguros Vida, S.A., Companhia de Seguros Allianz Portugal, S.A. and COSEC - Companhia de Seguro de Créditos, S.A. Banco BPI, S.A. is not authorised to receive premiums or enter into contracts on behalf of COSEC, Allianz or BPI Vida e Pensões and, as an insurance intermediary, assumes no responsibility for the coverage of risks inherent in the insurance contract.