2023

Insurance
documents
used in Trade
Alvarez Gavilan, Henry
Flores Lopez, Adriana
Garcia Viguria, Valeria
Hernandez Upegui, Laura
 International Trade Riks
1. Commercial risk

Non payment
Good risk quality

2. Risk country

Political risk
Economic – financial risk

3. Transportation risk
For longer the distance between one
country and another, the greater the
difficulty in transportation.
 International Trade Riks
4. Currency risk
It refers to the risk that is run when setting
prices when there is a currency that is not
one's own.

5. Legal risk

Legal systems and applicable laws are very

important in the success of the operation.

6. Investment risk

Sudden fall of growing markets

So, how can you
avoid this?
 Introduction
Coverage under contract in which one party agrees to repair or guarantee another party
against the loss of its property due to a specific contingency or danger.

The applicant must show annual

evidence of adequate insurance to cover
the value of documentary credits issued
to that applicant, this is a condition.

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documents/#:~:text=In%20the%20event%20of%20loss%20or%20damage%20to%20the%20goods,for%20the%20replacement%20of%20all
https://www.letterofcredit.biz/index.php/2018/05/07/insurance-documents/
 Something about ...
Transfers, interest and compensation: insurable
interest
Following a valid assignment, the applicant becomes an
insured. It is up to the claimant to prove that he has suffered
a financial loss, but that he also has an interest in or lost at
the time

New technologies in insurance documents

Blockchain: “The intelligent sensors identified a Tº problem
and we paid a claim in record time of eight hours”

Documents be done electronically? Law and legal

reforms
Section 13 of the Civil Evidence Act 1995 and Rule 31.4 of the
Civil Procedure Rules 1998 both provide that ‘“document” means
anything in which information of any description is recorded’

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documents/#:~:text=In%20the%20event%20of%20loss%20or%20damage%20to%20the%20goods,for%20the%20replacement%20of%20all
 Why is it important?
Why is it so important to have insurance in business?

In international trade, insurance aims to reduce risk for companies by protecting

them from bankruptcy, instability and misunderstandings between countries. These
reasons may take place in the foreign market.

It not only gives security in the stability of a company, or the

country, but also to the employees and the inhabitants in terms of
their properties as such.

Ref.How to export or import.https://howtoexportimport.com/Types-of-Insurance-Documents--484.aspx

Who is the mediator? SOME EXMAPLES

Insurance Broker: Insurance peruvians companies

Works for you. Experts at comparing policies between Interseguro, Rimac Seguros, Secrex,
providers. Help you decide what type you need based La PositivaPacifico Seguros, BNP
on your budget. Will not sell you an insurance but it will Paribas Cardif, Insur, Quaitas, Vivir
help you reach an insurance agent.
Seguros, etc.

Insurance Agent:
Works for a particular insurance provider and can help Insurance brokers in Peru
you choose a plan. They can help you find the right GENERAL AND PERSONAL
policy offered by your provider. INSURANCE / INDEPENDIENT: YONG
SOKOLIC GUISELLA LISSETTE

ACCION ASESORES Y CORREDORES

DE SEGUROS S.A.C.: OLIVARES
ROMERO, JOSE JULIAN

Ref.How to export or import.https://howtoexportimport.com/Types-of-Insurance-Documents--484.aspx

https://www.experian.com/blogs/ask-experian/insurance-agent-vs-broker/#s1
 Types Insurance Documents
1. INSURANCE NOTE: Datos del
cliente
It is a document issued by an insurance
broker that acts as an intermediary
between the company seeking to insure detalles de la
its shipment or commercial transaction poliza
and the insurance company.

cobertura
requerida

signature and seal

of the insurance broker

Ref.How to export or import.https://howtoexportimport.com/Types-of-Insurance-Documents--484.aspx

 INSURANCE BROKER NOTE
These are the steps followed to obtain the grade

1. Insurance request by the client: The client approaches an insurance broker to

obtain an insurance policy
2. Review of needs and risks with the insurance broker: Understand your specific
needs and the risks you want to cover. This includes evaluating assets, liabilities and
other relevant factors.
3. Quote and policy selection: The insurance broker requests quotes from different
insurance companies and presents coverage options to the client.
4. Delivery of the note from the insurance broker to the client. Before the policy
goes into effect, the insurance broker provides the client with a note from the
insurance broker. This note contains important information about the policy: Policy
details; coverage summary; premiums and payments; duties and responsibilities of
the insured

Ref .https://howtoexportimport.com/Types-of-Insurance-Documents--484.aspx
https://www.casasgalloabogados.es/modelo-carta-reclamacion-seguro-por-siniestro/
https://docplayer.es/4938847-Modelo-general-de-carta-de-condiciones-para-corredores-corredurias-miembros-de-fecor-preliminar.html
 Types of Insurance Documents
2. INSURANCE POLICY:
Establishes all the terms and conditions between the insurer and the insured, thus
indicating which of the parties will receive compensation in the event that the
merchandise is damaged or destroyed.

Floating
Specific or individual

Ref.How to export or import.https://howtoexportimport.com/Types-of-Insurance-Documents--484.aspx

 FLOATING POLICY SPECIFIC OR INDIVIDUAL
POLICY
For periodic exports, it is carried out for an
used for smaller shipments with little regularity.
indefinite period and covers all shipments made.
because they are usually very expensive

Continuos coverage: Shipments made during Specific coverage:over risks associated with that
a specific period, usually one year. particular shipment, such as damage, loss or other
adverse events.
Limits and Conditions:Maximum coverage
limits are established for each individual Specific terms and conditions:These terms may
shipment and for the total number of shipments vary depending on the type of cargo, destination,
during the policy period. means of transportation, and other factors.

Shipping records:a record must be maintained Flexibility in coverage: The company can
that includes details such as merchandise customize coverage according to your needs and
description, value, shipping route, and date of risks.
shipment.
Specific claim procedure:the claims submission
Settings:As additional shipments are made or process and handling will follow the guidelines
merchandise inventory changes occur. established in the corresponding individual policy.

Flexibility:Allows you to add or delete Date and duration of coverage: is subject to the
shipments as needed start and end date stated in the policy.
Ref.https://librosdefinanzaspersonales.com/2021/12/29/poliza-de-seguro-flotante-que-es/
Ref.https://chat.openai.com/c/393e1a11-e1a0-43c0-ae3d-e754aad14c18
-INSURANCE POLICY

Descripción de la
mercancía

Tipo de poliza

Fecha de vigencia

Datos corredorr de
seguros
INSURANCE POLICY

CONDITIONS

EXCLUSIONS

PROCEDURES IN CASE OF
AN ACCIDENT
 INSURANCE POLICY
These are the steps followed to obtain the grade
1. Request and quote: Provides information about what they want to
insure, such as property, vehicles, health, life, business or any other type
of risk. Besides, you can obtain the note from the insurance broker note.
2. Accept the offer: The insured accepts the terms and quote of the
insurance company, and proceeds to purchase the insurance policy. It
involves the payment of a premium.
3. Policy issuance: Insurance Policy must contains legally detailed
information about coverage, limits, deductibles, and other terms and
conditions of insurance.
4. Coverage (insurance certifacate): From the policy start date, the
insured is covered under the terms and conditions of the contract.
5. Premium payment: The insured must make regular payments of
premiums, the ongoing costs of insurance.
6. Renewal and adjustments: At the renewal period, the insurance
company may adjust the terms and premium based on claim history and
other factors.
7. Claims
8. Cancellation: Both the insured and the insurance company have the
option to cancel the policy according to the terms and conditions.

https://es.slideshare.net/JunDiegoBarreraArias/poliza-seguro-20212022-2
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 Types Insurance Documents

3. INSURANCE CERTIFICATE:
general
It is evidence of insurance but does not information
establish the terms and conditions of
insurance.This certificate is essential to prove
that the cargo is protected during
transportation and storage.
specific shipping
information

conditions

signature and seal

of the insurer

Ref.How to export or import.https://howtoexportimport.com/Types-of-Insurance-Documents--484.aspx

Disadvantages of Insurance Document
If there is no exchange risk insurance, it will cause a financial loss
and a negative effect on your investments.

If you do not have insurance for a transport risk, it can cause a bad
reputation with your partners for not meeting the delivery deadline,
difficulty in complying with contractual risks and loss of market
value.

If you do not have insurance for a payment risk, it can bring

disadvantages such as: A legal dispute with your partner and this
generates loss of time.
Advantages of Insurance Document
Export credit insurance occurs when the importer is unable to meet its
economic responsibilities. Then it provides security to creditors, has payment
coverage in most countries, better financial classification of the company and
improves competitiveness in the international market.

In transportation insurance, economic losses that result in total damages are

minimized. There is a professional service when making a claim and
additional benefits if the coverage includes it.

If it is exchange insurance, there is exchange insurance and documentary

credit, where the bank provides collection guarantee and from the first
moment you know the value of your money upon charge or payment.
Than k
yo u
u!