More and more Lithuanian firms use insurance of goods and currency fluctuation risks as a safeguard against possible losses while also improving their cash flows.
Experts say that companies reap maximum benefits by matching the financial products offered by banks and insurers.
In the first half of this year, insurer Lithuanian Export and Import Insurance (Lietuvos Exporto ir Importo Draudimas, LEID) underwrote credit insurance obligations worth LTL189.9m (Ђ55m), up 32.8 per cent compared to the same period last year.
Under such contracts, LEID provides insurance against the bankruptcy of Lithuanian or overseas customers or their deliberate failure to pay for goods or services. This type of insurance is available to Lithuanian and EU legal entities that sell goods or services with deferred payment.
Source: Verslo Zinios
