Insure the payment risks of buyers arising from sales transactions concluded with multiple buyers!

With selective risk insurance, you can insure your company’s various sales transactions with buyers in Estonia and abroad. However, in the case of selective risk insurance, the majority of the sales by your business remain uninsured, but nevertheless you still hedge the payment risks associated with multiple buyers. During the insurance period you can apply for the application of credit limits to new buyers and the amendment of previous credit limits.


  • You can sell with confidence on Estonian as well as foreign markets.
  • You will get more information about the background and payment history of buyers.

  • Gives you a competitive advantage, as you can offer a longer payment term.

  • You receive assistance in debt collection and are compensated for the related costs.

  • The insurance will compensate the buyer for any damage caused by unpaid invoices.

  • Upon request, you can also insure the sales of your subsidiary or affiliate.

  • Credit insurance can be used as a guarantee when financing sales invoices with factoring or other financial services.

For who?

starting enterprise
established company
exporting company

Service is suitable if

  • You want to insure multiple default risks of buyers, and you have buyers in Estonia and abroad.
  • Are planning to increase your export volume.

  • You are selling on credit terms, i.e., you give the buyer a long payment term to pay, which arrives after the goods have been delivered or the service has been provided.

Important conditions

  • The buyers may be located in Estonia, as well as abroad.
  • You apply for a credit limit for each buyer, and the sale to that buyer is covered by insurance cover up to the credit limit set by us.

  • The payment period given to the buyer is usually up to 90 days. The payment deadline must be in accordance with the terms and conditions of the insurance contract.

  • We must be informed of the payment default of a buyer within the agreed time.

  • In the event of default by the buyer, we will close the credit limit assigned to the buyer. Subsequent sales transactions are not covered by insurance cover.

  • You must be careful in your economic activity to prevent damage from occurring or increasing.

  • You can apply for an insurance benefit if an insured event occurs. An insured event is the insolvency of the buyer or failure to pay over a long period of time (a period of at least 180 days). Events that constitute an insured event are described in more detail in the policy conditions.

  • Payment of the insurance indemnity is subject to excess.

  • The buyer’s default risk associated with your business cannot be insured. The buyer must be independent.

  • The obligation of the buyer to pay for the purchased goods or services is insured. Claims against private individuals, fines for delay, contractual penalties, service charges of credit institutions, foreign exchange losses, customs fees, and other charges are not covered.

Insurance process

To enter into a contract, fill in the insurance contract application form and send it to the e-mail address krediidikindlustus@kredex.ee. If you have any questions, please contact our client manager.

We will review your application, assess your portfolio of buyers and, if possible, make you an offer for entering into an insurance contract.

For our part, we will make sure that we have understood your insurance needs correctly before making an offer. We will explain to you how credit insurance works.

When preparing the offer, we take into consideration information concerning the area of activity of your company, the number of markets and buyers, the amount of the credit limits being applied for, the estimated volume of insured turnover, previous loss events and other circumstances relevant to the conclusion of the insurance contract.

When submitting an offer, we will explain the terms and conditions of the insurance policy you are being offered and the costs involved in entering into the insurance contract.

Study the offer carefully and make sure it suits your needs. Feel free to ask any questions you may have when reviewing the offer.

If the offer is suitable, we will sign the insurance contract and you will receive an invoice for paying the insurance premium or its first instalment.

The insurance period is 12 months.

There are two types of costs associated with an insurance contract: the premium and the costs associated with the assessment of buyers (credit limit charges). The premium must be paid in the amount stated in the policy. The final amount of the premium is calculated taking into account the actual insured sales turnover.

We will set a credit limit for each buyer associated with your business. The credit limit amount is the maximum amount up to which a sale to that buyer is covered by the insurance cover. During the period of insurance you may, if necessary, apply to amend the amount of the credit limit and the assigning of credit limits to a new buyer. The credit limit granted to a buyer depends in particular on their creditworthiness.

Please fill application for credit limits and send to: limiidid@kredex.ee.

We expect a declaration of insured sales turnover from you for each quarter for the duration of the insurance contract. At the end of the insurance period, we will determine the actual amount of insured sales turnover.

If a buyer delays in the payment of the invoice, first remind them of the payment obligation yourself. If this fails to help resolve the situation, inform us of the buyer’s debt within the term set out in the insurance contract. To do this, send a notification of the payment default to the e-mail address kahjud@kredex.ee.

The insurance indemnity can be applied for after an insured event. To do so, send an insurance indemnity application, together with documents evidencing the damage, to the e-mail address kahjud@kredex.ee.

We will make the decision on payment of the insurance indemnity within one month after receiving the application and required accompanying documents.

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