AOFI has paid the first damage compensation resulting from the commercial risk
The biggest Serbian aluminum exporter „Impol Seval“ from Sevojno has insured the collection of its export receivables against commercial risks with AOFI since January 2007. From that time on „Impol Seval“ has been insuring all its receivables with a deferred payment term from buyers in Italy, Germany, Czech Republic and Bulgaria.
In this particular case a buyer from Italy „So.Gen.Co“ at first had not been settling its debts over an extended time period and then it went bankrupt. In this way, the risk of bankruptcy of the foreign buyer took place before the risk of prolonged non-payment of the debt and AOFI was obliged under the insurance contract with the company „Impol Seval“ to pay damages in the amount of EUR 174,318.00.
