Credit Insurance

Coverage Description:

TVPPA offers a credit insurance product for TVPPA members’ commercial and industrial customers. The program is underwritten by Euler Hermes American Credit Indemnity (Best’s Rating A+ VIII). Coverage placed by AJG.

Risks Considered: Commercial & Industrial Customers of TVPPA Members
Credit Limit: Utility determines receivables at risk (e.g. 2 months’ average sales)
Annual Premium Factor: $7.396 per $1,000 of coverage limit
Minimum Annual Premium: $185 per customer
Qualifying Loss: $1,000 or greater
Deductible: None
Coinsurance: 10% of Qualifying Loss (paid by Utility)
Indemnity 90% of Qualifying Loss (paid by Insurer)
Past Due Reporting To Insurer Any Customer Over 60 Days and Over $10,000 Due

Claims Must Be Filed Within 180 days from delivery of service or 90 days from due date of invoice, but no later than 180 days after the end of the policy period.