IRA Class 31 · General
Trade Credit Insurance in Kenya
Cover for non-payment by buyers on credit sales under IRA Class 31.
What does Trade Credit Insurance cover?
Indemnifies sellers if buyers default on invoices because of insolvency or protracted default - improves credit terms and unlocks bank financing.
Who needs Trade Credit Insurance?
Exporters, manufacturers, distributors and any business selling on open credit.
Examples of Trade Credit Insurance policies in Kenya
- Domestic trade credit
- Export credit insurance
Frequently asked questions
Can trade credit cover help me borrow more?
Yes. Banks often advance against insured receivables at higher percentages than uninsured invoices.
Regulation
Trade Credit Insurance is licensed under Class 31 of the Insurance Act (Cap 487) and supervised by the Insurance Regulatory Authority (IRA). Only insurers holding a current Class 31 licence may underwrite this cover in Kenya.