Search

Inserto en el marco de la nueva regulacion del contrato de seguro en el Codigo de Comercio chileno, los articulos 579 a 581 nos ofrecen un contexto regulatorio del seguro de credito alejado de la laconica referencia dada previamente por el articulo 11 del Decreto con Fuerza de Ley n° 251 de 1931. Sin embargo, una controversial referencia al riesgo cubierto, enunciado como el incumplimiento de la obligacion, y su dificil ajuste a los hechos tipicos desencadenantes de la obligacion indemnizatoria de la aseguradora, dan cuenta de la necesidad de revisar el topico, especialmente en un area del mercado de seguros, en que el diseno institucional asigna reglas particulares para conformacion a las aseguradoras del primer grupo. A su vez, desplazada la logica contractual liberal del seguro, propia de la regulacion codificada, y reemplazada por un ambito de aplicacion reducido de la autonomia privada, los eventuales desajustes normativos no pueden ser facilmente resueltos a la luz del texto de los condicionados generales sin afectar el marco imperativo que pretende ampliar los niveles de proteccion del tomador, en este caso con relacion a la individualizacion del riesgo. Inserted in the framework of the new regulation of the insurance agreement in the Chilean Commercial Code, articles 579 to 581 provide a regulatory context of the credit insurance, departed from the brief reference previously granted by the article 11 of the Decree with Legal force n° 251 of 1931. However, a controversial reference to the hedged risk, related to the breach of the obligation, and a difficult adjustment with the legal facts that trigger the indemnity obligation of the insurer, show the need to revisit the topic, especially in an area of the insurance market in which the institutional design determine particular rules for the incorporation of the insurers of the first group. In turn, once shifted the liberal logic of the insurance agreement, basis of the codified regulation, and replaced by a reduced scope of the private autonomy, the possible normative mismatches may not be easily solved within the general conditions of the agreement, without affecting the imperative framework that aims to extend the level of protection of the insured party, in this case, referred to the identification of the risk.

Przedmiot badan koncentruje sie na określeniu zalezności eksportu od poziomu oceny ryzyka terytorialnego. Firmy oceniają i zarządzają ryzykiem, ktore moze miec wplyw na przebieg ich umow. Informacje o partnerach biznesowych, ryzyku terytorialnym i handlowym są waznym narzedziem zarządzania ryzykiem terytorialnym. Dla eksportera tym wazniejsze jest skupienie sie na ryzykach związanych z zasiegiem miedzynarodowym, ktore juz teraz mogą byc trudniejsze do oszacowania w zakresie pozyskiwania danych i ich wlaściwej oceny. Muszą rowniez zdecydowac o odpowiednim sposobie zabezpieczenia sie przed ryzykiem. Rozne narzedzia i wyspecjalizowane instytucje mogą pomoc eksporterom w ocenie ryzyka. Celem artykulu jest ocena, w jakim stopniu publikowane oceny ryzyka terytorialnego wplywają na podejmowanie decyzji i zarządzanie ryzykiem terytorialnym w związku z wynikającym z nich eksportem. Na podstawie analizy danych ze źrodel pierwotnych oraz danych OECD i EGAP z lat 1999- 2018 zbadano zaleznośc miedzy oceną ryzyka a wielkością eksportu w wybranych krajach. Wyniki analizy pokazują, ze ryzyko krajow ma wplyw na wynikający z tego eksport.

Rural microfinance must contend with the triple challenges of isolation, small‐scale transactions, and risk. These challenges result in information asymmetries and transaction costs that render markets for financial services costly or missing. This paper examines how emerging digital technologies (e.g., mobile money, digital credit scoring, and earth observation) can reshape rural markets for savings, credit, and insurance services, especially in developing countries. Although our synthesis of the literature suggests reason for hope in all three domains, the imperfections of these digital technologies require evaluation and oversight if the resulting rural financial system is to be more efficient and equitable than its predecessor. JEL CLASSIFICATION D14; F63; R51

Throughout the world, SMEs play a key role for national economies in innovation, employment and growth, and in ensuring economic diversity and resilience. However, inadequacy in risk management, difficulty in accessing to credit, lack of adequate human resources and management experience are some obstacles to the development and productivity of SMEs. Although credit insurance companies provide services such as credit management, customer information, determining sales limits and monitoring credit risk in addition to credit insurance, it is seen that SMEs do not prefer this option. In EU-wide, reasons such as SMEs seeing premiums as an additional burden, SMEs avoiding additional procedures for minimum management standards, negligence or faulty trust, lack of knowledge on credit insurance, lack of awareness of the consequences of doubtful debts are shown as a justification. For this reason, it is argued that states should intervene in this process and that a support system should be established to provide credit insurance for SMEs. In other countries, it is seen that the government provides this support by providing reinsurance to insurance companies. So that the premiums are reduced, administrative procedures are simplified, and SMEs receive the management and information support they require. On the other hand, banks are reluctant to give loans as they consider SME credits as suspicious, and banks' reluctance can be overcome with credit insurances. Pursuant to article 33/A of the insurance law, the Council of Ministers decided to establish a system in Turkey. The functioning of the system is regulated under the “Communiqué on Procedures and Principles of the Government Supported System to Offer Commercial Credit Insurance for SME” dated 24 December 2018 and numbered 30635. In this way, Turkey has taken a late but important step for SMEs. The regulation aims to remove the barriers that prevent SMEs from getting commercial credit insurances., Dünya genelinde KOBİ’ler, inovasyon, istihdam, büyüme, ekonomik çeşitliliğin ve dayanıklılığın sağlanmasında ülke ekonomileri için anahtar rol oynamaktadır. Ancak risk yönetiminde yetersizlik, krediye erişimde güçlük, yeterli insan kaynağı ve yönetim tecrübesinde yoksunluk, KOBİ’lerin sağlıklı büyümelerinde ve verimliliğinde engel teşkil etmektedir. Her ne kadar alacak sigortası şirketleri, alacak sigortası sağlamanın yanında, alacak yönetimi, müşteri bilgileri, vadeli satış limitleri belirleme ve alacak riskinin takip hizmeti verse de KOBİ’lerin bu seçeneği pek değerlendirmediği görülmektedir. AB çapında buna gerekçe olarak ise KOBİ’lerin primleri ek yük olarak görmesi, minimum yönetim standardı için getirdiği ek idari prosedürden kaçınması, ihmal veya hatalı güven, alacak sigortasının pek bilinmemesi ve şüpheli alacakların yaratacağı sonuçlarla ilgili farkındalık eksikliği gibi sebepler gösterilmektedir. Bu nedenle devletlerin sürece müdahale etmesi ve KOBİ’lere alacak sigortası temin edecek bir destekleme sisteminin kurulması gerektiği kabul edilmektedir. Emsal örneklerde ise devletlerin, sigorta şirketlerine reasürans sağlayarak bu desteği verdiği ve sigorta şirketlerinin sisteme dahil olmasını teşvik ettiği görülmektedir. Bu yolla primlerin düştüğü, idari prosedürlerin azaldığı, KOBİ’lerin ihtiyaç duyduğu yönetim ve bilgi desteğinin sağlandığı görülmektedir. Öte yandan, bankaların KOBİ alacaklarını şüpheli alacak olarak değerlendirmesi nedeniyle kredi vermekte isteksizliği de ticari alacak sigortasıyla aşılabilmektedir. Türkiye de sigorta kanununun 33/A maddesine istinaden Bakanlar Kurulu kararı ile sistemin kurulması öngörülmüştür. 24 Aralık 2018 Tarih Ve 30635 Sayılı “Küçük Ve Orta Ölçekli İşletmelere Yönelik Ticari Alacak Sigortası Sunulmasını İçeren Devlet Destekli Sistemin Çalışma Usul Ve Esaslarına Dair Tebliğ” ile de sistemin işleyişi düzenlenmiştir. Böylece Türkiye de KOBİ’ler için geç ama önemli bir adım atmış bulunmaktadır. Yapılan düzenlemeyle de KOBİ’lerin ticari alacak sigortasına erişmesinin önündeki engellerin kaldırılmaya çalışıldığı görülmektedir.

The willingness of creditors to satisfy the credit demand of the population and the economy under mutually acceptable conditions directly depends on the degree of legal protection enjoyed by creditors. In this paper, we deal with the protection of creditors' rights and the instruments used for this purpose. The aim of this paper is to consider the economic effects arising as a result of the application of instruments of creditors' rights protection, which affect not only the financial position of creditors and debtors but also the stability and efficiency of the financial and economic system as a whole. The research results show that the existence of an adequate level of protection of creditors' rights has a strong positive impact on the size and activity of the credit market. On the other hand, the application of various instruments of creditors' rights protection can cause both positive and negative effects on the creditors position. Yet, an excessively high level of creditors' protection can significantly worsen the position of debtors and, consequently, aggravate the position of creditors in the long run.

Today, insurance companies are looking for new approaches to risk insurance so that the risk remains insurable and at the same time does not endanger the existence of the insurance company itself. Every risk must be evaluated by the insurance company as best as possible. Insurance companies have their own methodologies for assessing international risks, which show differences. Each insurance company tries to ascertain the most accurate quantitative and qualitative data in order to analyse the potential risk in depth. Evaluation is the basis for setting prices, country risk limits and, if necessary, has an impact on the specific definition of risk acceptance conditions. The aim of the article is to analyse and evaluate the methods and approaches of insurance companies on the basis of data obtained from databases of OECD and selected credit insurance companies. Further assess from the perspective of the exporter whether these methods are important in his deciding during the implementation of a specific business case. The result is the finding that the risk evaluations of insurance companies are beneficial for the exporter in terms of assessing the planned intention to export to the territory.

İhracat kredi sigortası, ihracatçıların uluslararası ticarette karşılaştıkları ticari ve politik riskleri güvence altına almak amacıyla kullandıkları bir risk yönetim aracıdır. Bu çalışmanın amacı, ülkemizde kısa vadeli ihracat kredi sigortası, ihracat ve GSYİH arasındaki ilişkiyi deneysel veriler kullanarak ölçmektir. Çözümlemede, nicel araştırma metodlarından ex-post facto yöntemi tercih edilmiştir. Araştırmada, basit regresyon çözümlemesi ile çalışmada ele alınan varsayımlar test edilmiştir.

This paper examines the effect of farmers’ liability on demand for credit with and without insurance. We test predictions of a theoretical model in a lab in the field experiment with coffee farmers in Costa Rica. Farmers choose how much to invest in six different settings, described on the one hand by whether the loan is insured or not, and on the other by their liability. Our results show that the uptake of loans bundled with insurance is significantly higher than the uptake of loans without insurance, when farmers are liable for sure, and when there is uncertainty about their liability. In the case of limited liability, the uptake of credit is high irrespective of whether the loans are insured or not. Our results suggest that in order to increase the uptake of insurance as a strategy to increase private investment and reduce the vulnerability of farmers to shocks, it is important that farmers are liable with at least some probability.

The pricing of financing credit for small and micro enterprises (SMEs) under government credit enhancement includes an important pattern to solve the financing difficulties of SMEs. Using the data of SME credit guarantee funds from Wenzhou, this paper studies the cost of credit under government credit enhancement from three dimensions: credit in different periods, category of credit granting enterprises, and factors affecting the pricing of credit. In the pricing process of credit and guarantee loans to SMEs, the leverage effect is dominant. However, from the third quarter of 2019, the credit pricing process shows the credit constraint effect. This paper found that the leverage effect occurs in the loans of non-high-tech and nonentrepreneurial enterprises, and the credit constraint effect is dominant in the loans of high-tech enterprises and entrepreneurial enterprises. Especially for high-tech enterprises, regarding the elements of interest rate premium, the statistically significant difference involves the amount and term.

Credit insurance is of vital importance for the trade sector and almost every related business. Moreover, every policy in credit insurance is tailor-made in order to suit in the best available way the unique needs and demands of the insured business. Thus, pricing of such service can be tricky for an insurance company. In the present chapter, this pricing problem in the field of credit insurance will be addressed through the use of intelligent control mechanisms. More specifically, a way of calculating the price of insurance policies that has to be paid by a prospective client of an insurance company will be suggested. The model will be created and implemented with the use of fuzzy logic, and more specifically, through the implementation of an adaptive neurofuzzy inference system. The training data that will be used for the tuning of the system will be derived from real anonymous insurance policies of the Greek insurance market.

Màster de Direcció d'Entitats Asseguradores i Financeres, Universitat de Barcelona, Facultat d'Economia i Empresa, Curs: 2020-2021, Tutor: Manuel Martínez Rodríguez, El seguro de crédito garantiza a sus asegurados el cobro de los créditos a su favor cuando se produce el incumplimiento de pago por parte de sus deudores a causa de la insolvencia o mora prolongada de estos. El seguro de pérdida de beneficios cubre las pérdidas económicas que se producen a consecuencia de un siniestro de daños sobre bienes, por el cual la empresa asegurada no puede mantener el mismo nivel de actividad que tenía antes de la ocurrencia del si niestro. Por lo tanto, ambos ramos ofrecen al asegurado protección de su cuen ta de resultados y el balance de situación a causa de eventos que están fuera de su control. Sin embargo, estos ramos siempre se han analizado de forma separada. Este trabajo plantea cuatro sinergias que pueden existir entre ambos ramos en relación a sus procesos de suscripción, en la gestión de los siniestros y en la distribución.

We want to build our comprehensive pricing methodology for credit insurance on principles which we present as propositions. By doing so we hope to convince the reader of the soundness of the approach or to channel criticism to the point.

Export credit insurance (also referred to as “export insurance”, “export credit guarantee”, or “trade credit insurance”) was initially introduced to support exports.

Amac- Bu calismada amaclanan gerek ulkemizde gerekse yurtdisinda sigortalanmis kredili ticaretin dis ticaret uzerindeki etkisinin arastirilmasi ve konunun onemi uzerinde farkindalik yaratarak ulkemizde gelecekte cok buyuyebilecek bir potansiyele dikkat cekmektir. Yontem- Resmi destekli ihracat kredi sigortasi ya da ozel sektor kredi sigortasi kuruluslari tarafindan sigortalanan acik hesap ticaretin, ihracatin ve genel olarak uluslararasi ticaretin gelisimine olan destegi konusunda yapilan calisma ornekleri incelenmistir. Ihracatin ekonomik buyume uzerindeki etkisi uzerinde durularak, ihracat kredi sigortasi destegi irdelenmistir. Temel kavramlar ve literatur calismalari ozetlenmistir. Bulgular- Literatur taramasi sonucunda elde edilen bulgular sunlardir: Tedarikci kredisi, tedarikci firmalarin satislarini arttirarak firma buyumesine katki saglamaktadir. Alici firmalar icin de onemli bir finansman kaynagi olmaktadir. Alici sirketin kendisi de musterilerine kredili satis yapabildiginden, ticari akimlarda artis saglanmaktadir. Tedarikci kredisi isletme sermayesi ihtiyacinin karsilanmasinda banka kredilerine yonelen sirket icin finansman ihtiyacini tamamlayan bir rol oynamakta ve ozellikle finansal sikisikliklarin oldugu donemlerde, banka kredisine alternatif bir finansman kaynagi olmaktadir. Acik hesap ticaretin sigortalanmasi, ulkenin ihracatini arttirma konusunda son derece onemli bir role sahiptir. Makro duzeyde, ihracatin buyumesi ile ekonomik gelisme arasinda da iki yonlu bir nedensellik iliskisi bulunmaktadir. Sonuc- Calismada sigortalanmis kredili satislarin ticari akimlari destekleyecekleri, tedarik zincirlerinin buyumesine neden olmalari sonucunda da, ticaret hacminin artmasina, ekonomik buyumeye katki saglayacaklari sonucuna ulasilmistir.

The Armenian insurance market has undergone major changes in the transition to a market economy. Growth tendencies were observed in almost all insurance indicators. At present, the RA Central Bank is the body overseeing the financial system of RA. The positive shifts in the insurance market are partially conditioned by its activities. The article presents the main directions of the activities of insurance companies in RA. Insurance premiums and insurance indemnities have undergone comparative analysis. In a number of countries the insurance is one of the most important prerequisites for the provision of agricultural loans through which banks try to mitigate their credit risk. Agricultural insurance is not implemented in the Republic of Armenia, which negatively affects the stability and development of the sector. Taking into account the advantages of compulsory insurance and the current socio-economic conditions created in Armenia, the article recommends to implement compulsory insurance of agricultural credits. The necessity of introduction of credit insurance in the RA agrarian sphere has been justified, the reasons of non-implementation of agricultural credit insurance has been raised, and the main results expected when implementing agricultural credit insurance has been presented.

EnglishThis paperaims to carry out a study about the tools and techniques used by the Savings and Credit Bank in the analysis and evaluation of investment projects of its borrowers. In order to achieve this objective, a comparison between its decision-making processes andthe ones presented in the scientific literature was carried out, to be able to understand the problem of credit risk and bad credit standing of the bank. The investigation concludes that because it is a public bank, it is forced to support projects that would otherwise not be accepted. It has also been found that a portion of the credit in default of the bank originates in clients liable for services rendered to the State, lacking the bank to demand the proper guarantees or the application of credit insurance. It is concluded that the bank problem relates to those arising from asymmetric information, namely adverse selection and moral risk portuguesEste trabalho tem como objetivo realizar um estudo sobre as ferramentas e tecnicas usadas pelo Banco de Poupanca e Credito na analise e avaliacao de projetos de investimento dos seus mutuarios. Para a prossecucao deste objetivo fez-se a comparacao dos seus processos de decisao em relacao aos apresentados na literatura cientifica, de modo acompreender a problematica do risco de credito e do credito mal parado do banco. A investigacao conclui que por se tratar de um banco publico, este ve-se forcado a apoiar projetos que de outra forma nao seriam aceites. Tambem se verificou que uma parte do credito em incumprimento do banco tem origem em clientes alanacados por servicos prestados ao Estado, faltando ao banco exigir as devidas garantias reais ou a aplicacao de seguros de credito. Conclui-se que o problema do banco identifica-se com os decorrentes da informacao assimetrica, nomeadamente a selecao adversa e o risco moral.

The aim of this paper is to study theoretical aspects of export credit insurance in the framework of microeconomics and analyze the economic impacts of an export credit program on trade flows within a framework of a microeconomic analysis. A multi-country trade model has been developed based on optimization methods and algorithm. For our theoretical analysis, we consider a multi-country trade model when one of countries imports an export good from other countries.

Urgency of the research. The study of the domestic practice of export credit insurance is due to the need to intensify the export activity of enterprises. Target setting. An important condition for stimulating the activity of export-oriented enterprises is the formation of an effective mechanism for lending export operations and ensuring the insurance protection of property interests of foreign economic entities. Actual scientific researches and issues analysis. Scientific works of such scientists as K. S. Barabash, Ye. O. Boyko, M. V. Karyakina, L. B. Kolinets, M. S. Klapkiv, G. S. Timofieva is devoted to the study of the problems of creating an export credit protection system. Uninvestigated parts of general matters defining. The peculiarities of the formation of the mechanism of insurance of export credits in the conditions of the necessity of growth of domestic exports are insufficiently investigated. The research objective. Identification of the main shortcomings of the organization of insurance protection of export activity in Ukraine and determination of the directions of improvement of the mechanism of state support for insurance of export credits. The statement of basic materials. The article substantiates the necessity of forming a system of insurance protection of export credits with state support. Existing features of the domestic legal and regulatory framework regulating insurance and guarantee of export credits and operation of the Export-Credit Agency are revealed. The author's approach to classification of export credits and types of insurance of export credits is offered. Conclusions. Thus, the practice of developed countries shows that in order to intensify the export activity of domestic commodity producers, it is necessary to form a system of insurance protection of export credits with state support.

تمام انواع کسب و کار شامل عناصری از ریسک است، اما در تجارت بین‌الملل بعد جدیدی به آن اضافه می‌شود. تأخیر و یا عدم پرداخت وجه کالای صادراتی در اثر وجود دو نوع ریسک مهم در فضای تجارت بین‌الملل، ریسک سیاسی و ریسک بازرگانی است. هدف از این پژوهش، بررسی تأثیر ریسک‌های سیاسی و بازرگانی کشورهای واردکننده‌ و همچنین تأثیر یارانه/مالیات بیمه‌ی اعتبار صادراتی، بر صادرات غیر نفتی ایران به عمده‌ترین کشورهای هدف صادرات است. به همین منظور، از مجموعه داده‌های تابلویی مربوط به صادرات غیر نفتی ایران به 30 کشور عمده هدف صادرات غیر نفتی و آمارهای ریسک سیاسی، اقتصادی و مالی برگرفته از شاخص‌های راهنمای بین‌المللی ریسک کشوری(ICRG) برای دوره زمانی 1384 تا 1391 استفاده شده است، تا از طریق برآورد یک الگوی جاذبه این ارزیابی صورت پذیرد. در برآورد الگو، از الگوریتم‌های ایستا و پویا استفاده شدکه الگوریتم ایستا خود شامل دو الگوی ایستا و موندلاک جهت تفکیک اثرات کوتاه‌مدت و بلندمدت است. الگوی ایستا با استفاده از رهیافت اثرات تصادفی و الگوی پویا با روش گشتاور تعمیم‌یافته‌ی سیستمی (SGMM) برآورد شد. بر اساس نتایج، ریسک سیاسی در بلندمدت بر صادرات غیر نفتی ایران تأثیر مثبت داشته ولی ریسک بازرگانی هم از منظر شاخص ریسک اقتصادی و هم از منظر ریسک مالی بر صادرات غیر نفتی ایران اثر منفی داشته است. همچنین بررسی تأثیر سیاست بیمه اعتبار صادراتی نشان داد، دولت در این مدت سیاست مالیاتی اعمال کرده ولی اگر از این طریق به صادرکنندگان یارانه اعطا نموده بود، می‌توانست بر صادرات غیر نفتی ایران تأثیر مثبت داشته باشد.

This article discusses the role of credit insurance in Armenia as an important mechanism for promoting export diversification, growth and sustainable development. The authors show that a market gap in demand for export financing, as compared with existing supply, is mainly attributed to the use of two-factor models by commercial banks, limited product knowledge, and increased risk of cross-border trade transactions. The authors analyse the key drivers for export financing and export insurance, showing the immediate impact the Armenian export credit agency has achieved over the past two years, and argue its defining role for the development of value chains over the medium and long term.

В статье рассматриваются проблемы страхования предпринимательской деятельности, виды страхования предпринимательских рисков, используемых на различных стадиях кругооборота денежных средств. Исследуются проблемы страхования предпринимательских рисков, приобретающие особую актуальность, так как с каждым годом количество предпринимательских рисков, только увеличивается. Проведен анализ наиболее важных проблем, существующих в сфере страхования предпринимательских рисков, ипредложить пути по их совершенствованию.

The systematic risks related to credit financing has received significant attention in the academic domain during and after any financial crisis. However, the role of insurance has not been adequately studied in the context of crises. The extant literature also shows that the scale of credit financing depends upon the availability of credit insurance and on the policy orientation. Past evidence shows that demand for credit insurance was significantly high during the crisis period. Therefore, this chapter proposes to study the role of various combinations of these two aspects near the period of crisis. The findings of this chapter are based on the outcomesof previous research articles on these topics. The research articles are gathered from various online databases for the years 2000–2014 for the G7 economies. This chapter has alsoincluded facts from contextual policy documents on monetary and fiscal policies where it finds them necessary. Broadly, this chapter describes the role of policies when two mutually dependent industries interact and adversely impact market equilibrium.

As trade progressively adopts digitization and new technologies, data deeply transforms how trade-related risks are modelled, priced and transferred. Many companies already treat data as a commodity that can be sold and bought: as a consequence, a number of data marketplaces are already in operations. However, there is no data exchange specialized in trade risks. This paper aims at introducing what a marketplace approach to trade risk data entails, why we conduct research in this field and envisage to launch solutions in this field, what technologies and business models it would require, and how it could unlock substantial benefits for the whole trade, trade finance and credit insurance ecosystem.

China is the world’s largest exporter, and is also one of the few economies that have successfully transitioned from central-planned to market-oriented economy. In this paper, we analyze the effect...

Introduction. Development bank loans for environmental projects in Ukraine must be based on understanding and evaluating the increased risks that they objectively characteristic that may be attributed to unusual risks. An important element of financial security implementation of environmental policy should be the insurance of environmental risks. Environmental situation requires an expansion of traditional as well as search and introduction of new types of insurance, including insurance operating environmental projects from the risk of failure to achieve certain environmental effects. Purpose. Substantiate need for credit insurance and environmental measures as additional tools extrabudgetary funding projects to preserve the environment. Results. The theoretical and methodological approaches to project environmental security, based on insurance against the risk of inability to achieve projected environmental effects, based on the principles of mutual benefit and economic interest of the insured in improving their own environmental safety and to determine the damages as compensation for the losses incurred in connection ‘connection with failure to insured stated in the implementation of environmental projects. Conclusion. It is noted that the important criteria for evaluation of banking risks in this sector are: compliance with Environmental Project national, regional, sectoral objectives and development programs; scientific and technical level of the project; quality of corporate and regional management in the field of environmental protection.

In the paper an attempt to present the role of merchant credit insurance in processes that affect the security of business operations of companies has been taken. As a part of the discussion, the areas and sources of the risks have been presented, their overall distribution has been taken into account, and particular attention has been paid to those that could be covered under insurance contracts concluded with credit insurers. The reasons underlying their use have been discussed, taking into account both the specificity of the risk and the benefits of its protection. In the practical part, the results of author’s own research and the conclusions drawn have been presented. The final part of the paper contains conclusions on an attempt to assess the economic viability of merchant credit insurance in the activities of individual companies taking into account the external market conditions in which they operate.

This paper develops a risk-based capital pricing model for credit insurance portfolios held by a vulnerable insurer. The model accounts for business cycles using a two-state Markov switching model, and allows for dynamic leverage adjustment by the insured firms. The new proposed model, which incorporates risk-based capital practice, is better for both the insurer and the insured firms. Based on the risk-adjusted performance metric, we found that the insurer is better off insuring short- and medium-term loans in expansion and steady states, while it is better off backing both short- and long-term loans in recessions. Our results also emphasize that macroeconomic uncertainty significantly impairs the creditworthiness of the insurer and insured firms.

This paper studies the model of accounts receivable supply chain financing based on credit insurance from the perspective of banks. First of all, the paper analyzes two different financing modes of the innovative model - the pledge financing mode and the factoring financing mode. Secondly, the paper explains the sources of credit risks for accounts receivable supply chain financing under credit insurance, and the necessity of using credit insurance. The sources of credit risks mainly include: the enterprises’ comprehensive strength under systemic and non-systemic risks, status of accounts receivable, supply chain operation, performance of insurance companies, and so on. In addition, based on the credit risks explained in this paper, the risk assessment system and the credit risk assessment model are built. At the end, the paper offers three suggestions for the banks’ financing risk control: bank should carefully check the policy’s exclusions clauses; bank must carefully check the authenticity of accounts receivable; bank can use dynamic monitoring on qualification checking for financing enterprises, core enterprises and insurance companies.

This study aims to support the implementation of national development in Indonesian banking sector which is active in increasing the distribution of development and economic growth in order to improve people�s welfare. One of the financial services provided by banking sector is loan. Hence, the existence of business risk management of banks aims to maintain the credibility of banks so that people can continue to trust on the existence of a banking institution and credit insurance. This study applied a juridical normative research method which is a method used to seek truth from a legal prescriptions written in the books of law. The results showed that, in the legal perspective of business, the financial services provided by banks in the form of credit are done by using credit agreements and are protected by credit insurance as an effort to overcome bad credit risk. Currently, the legal perspective of business views the importance of applying a precautionary principle in credit agreements by formulating operational standards of banking management to avoid bad credit risks. The insurance offered by banks is credit life insurance which functions to cover the debtor�s remaining credit if the debtor dies before paying off his credit. Credit insurance is an alternative used to overcome bad credit risk. The conclusion is that banking institutions apply their standard procedures in providing credit to debtors to avoid legal disputes or other business risks. In addition, each bank institution must apply the precautionary principle in order to achieve its goals effectively and to guarantee legal fairness and certainty in credit between the debtor and the banking institution.��Asuransi Kredit Sebagai Upaya Optimalisasi Mengatasi Resiko Kredit Macet Dalam Perekonomian Perbankan Moderen Era Revolusi Industri 4.0 Di Indonesia�Tujuan penelitian disini adalah untuk menunjang suatu pelaksanaan pembangunan nasional dibidang perbankan Indonesia yang aktif dalam rangka meningkatkan pemerataan pembangunan dan�� hasil-hasilnya, pertumbuhan ekonomi, dan kearah peningkatan kesejahteraan rakyat banyak untuk stabilitas nasional. Bidang jasa keuangan Perbankan bergerak salah satunya adalah pemberian kredit. Selain itu dengan adanya manajemen risiko bisnis daari lembaga perbankan menjadikan lebih menjaga tingkat bank yang sehat agar masyarakat tetap percaya akan adanya suatu lembaga perbankan dan juga asuransi dalam kredit. Metode penelitian yang digunakan yaitu yuridis normatif yaitu dimana yang dicari pembuktian kebenaran dari suatu preskripsi-preskripsi hukum yang tertulis di dalam kitab-kitab undang-undang. Hasil penelitian ini yaitu mengenai pemberian kredit diberikan kepada lembaga perbankan dalam pandangan perspektif hukum bisnis yaitu dengan menggunakan perjanjian kredit dan asuransi dalam kredit sebagai mengatasi adanya risiko agar tidak terjadi kredit bermasalah yang akan bisa mengakibatkan tingkat kesehatan suatu bank menurun dan serta disini sebagai penerapan manajemen risiko bisnis di lembaga perbankan. Perspektif hukum bisnis meninjau saat ini dengan menerapkan suatu prinsip dalam perjanjian perbankan kehati-hatian bank untuk kredit dengan membuat standar operasional manajemen perbankan sehingga bank terhindar dari risiko bisnis perbankan. Jenis asuransi yang ditawarkan perbankan adalah asuransi jiwa kredit� yang� berfungsi untuk� menutup� sisa� kredit pihak debitur� jika� debitur� tersebut meninggal� dunia� sebelum� lunas kreditnya. Asuransi kredit merupakan salah satu alternatif pihak perbankan yang digunakan dalam mengatasi suatu risiko kredit macet. Simpulan dari penelitian ini adalah lembaga perbankan dalam pemberian suatu kredit kepada debitur harus menerapkan prosedur sesuai dengan standar dari masing-masing bank sehingga tidak akan terjadi masalah hukum atau risiko bisnis lainnya selain itu penerapan prinsip perbankan dalam asas kehati-hatian harus selalu diterapkan,sehingga memenuhi tujuan dari hukum tersebut dapat berjalan efektif dan bermanfaat serta terjaminnya keadilan dan kepastian hukum dalam pengkreditan antara debitur dan pihak Perbankan.

The term “ECGD” stands for Export Credit Guarantee Department. It is a separate department of the British Government. It was set up in 1919 to help British exporters to export goods to other countries. Like any other country, the UK also needs foreign exchange but there are more risks in exporting overseas than selling in the local market. The manufacturers and services providers are not willing to take such risks in selling their products and services overseas. The ECGD encourages the exporters to export more of their products and services by providing insurance against the commercial and political risks of not being paid by overseas buyers after goods were exported. A section of ECGD dealing with exporters trading on short terms of credit basis (i.e. up to two years) was sold to Atradius (formerly NCM Credit Insurance Limited) in 1991.

A documentary collection is a method by which the banking system is used by the seller to collect payment from the buyer. Financing collections can often provide a better alternative for the financier than lending on overdraft given the control, visibility and capture of proceeds.

In June 2017, the Japanese Diet passed the Partial Revision of the Small and Medium-sized Enterprise Credit Insurance Act to Promote Improvements and Developments of SME’s Business Management (“Credit Guarantee System Reform Act”) to enhance the roles played by the credit guarantee system in terms of supporting SMEs. In this chapter, the author, who was a member of the Small and Medium Enterprise Policy-Making Council’s Financial Working Group (“Financial WG”), tries to explain the aims of this reform.

Machine learning models are increasingly used in the industry to make decisions such as credit insurance approval. Some people may be tempted to manipulate specific variables, such as the age or the salary, in order to get better chances of approval. In this ongoing work, we propose to discuss, with a first proposition, the issue of detecting a potential local adversarial example on classical tabular data by providing to a human expert the locally critical features for the classifier's decision, in order to control the provided information and avoid a fraud., presented at 2018 ECML/PKDD Workshop on Recent Advances in Adversarial Machine Learning (Nemesis 2018), Dublin, Ireland

In this chapter, we look at how receivables finance was used to fund the lengthy credit terms provided to a buyer in an emerging market country on a specific contract.