NGI, Coface to offer company insurance

Dubai: National General Insurance, a part of the Emirates Bank group, said yesterday it had teamed with France's Coface, a global leader in credit insurance, to offer receivables insurance to UAE companies.

Company officials told Gulf News credit insurance was becoming a critical issue at a time when the UAE economy was boosting trade relations with the rest of the world.

Receivables insurance allows firms to protect themselves against the risk of not being paid for goods sold because of insolvency, war or natural disasters that could make money transfers difficult.