Notice of claim (Claim) 0 Comments July 9, 2014 by Aman Union Leave a comment An application by the insured for indemnification of a loss under the policy. Read More
Non-cancellable limits 0 Comments July 9, 2014 by Aman Union Leave a comment Credit limits which remain valid for the duration of the policy period and cannot be canceled by the insurer. Cover, however, may be automatically deactivated on the occurrence of certain defined events, e.g. rating downgrade, overdue payments etc. Read More
Non qualifying loss (Claims threshold, NQL, Threshold) 0 Comments July 9, 2014 by Aman Union Leave a comment The amount below which losses do not qualify for indemnification and are to be kept by the insured for their own account. Read More
Non payment risk 0 Comments July 9, 2014 by Aman Union Leave a comment The risk that a buyer will default on their obligation to pay an invoice. Read More
Non binding indication (NBI, Quotation non-binding, Quote non-binding) 0 Comments July 9, 2014 by Aman Union Leave a comment An insurer’s written offer of policy terms and conditions, subject to change by the insurer. Read More
Non acceptance of goods 0 Comments July 9, 2014 by Aman Union Leave a comment The refusal or failure of the buyer to take possession of products shipped by the insured. Read More
No claims bonus (No claims credit, Low claims bonus) 0 Comments July 9, 2014 by Aman Union Leave a comment An amount or percentage provided to the insured as a reduction of premium owed, depending on the claims ratio of the policy. Read More
Natural disasters (Acts of God) 0 Comments July 9, 2014 by Aman Union Leave a comment The manifestation of a natural force that is beyond the control of the insured, buyer, guarantor or government. See also: Political risk. Read More