BBVA will soon update its data protection policy, which you can read here. Starting in July, you will be able to choose the options you prefer and sign the policy on our digital channels or at any of our branches.
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    Credit Insurance

    Protect yourself against potential defaults by your customers.

    • It covers non-payment or final bankruptcy of your debtors.
    • Fixed cost from the start, with no surprises in the quarterly settlements.
    • Without having to declare monthly sales.

    What does it cover?

    • Customer rating and prospecting
      • Determine the risk of current or potential customers.
      • Flat fee for rating customers: it will allow you to explore the market by knowing the credit rating of its potential customers.
      • You can rate from 100 to 500 debtors per year, based on the sales volume. 
      Recovery

      The Solunion insurance company offers a network of local experts throughout the world who, on your behalf, will be able to:

      • Accelerate the repayment terms for debts.
      • Save time and internal resources.
      • Manage the recovery to recoup losses.
      • Cover defense expenses at the percentage of sales insured.
      • Manage claims with a team of specialized lawyers.
      Compensation
      • Guarantee your sales and the continuity of your business by avoiding potential problems with non-payments.
      • You will be able to accept new orders without risks or worries.
      • In the event of a definitive non-payment, the Company compensates for this non-payment at the coverage percentage.

      The general coverage covers 85% for debtors with a grade between 1 and 6.

      Coverage for unidentified debtors is provided on sales of up to €2,000. It covers 50% of the customers you have in the portfolio who are not rated.

      See the coverage limits

    How does it work?

    • The Credit Insurance policy is purchased through the Solunion Credit Insurance company, which provides the following services:

      • Solunion will rate your customers based on solvency criteria and assign them an internal indicator, or grade.
      • You will have to request a rating for your customers and Solunion will set a credit limit based on each customer's grade.

      Find out about the types of grades.

    Rates your customers with a grade to protect your sales on credit.

    Choose the most suitable option

    • Personalize the Credit Insurance policy based on your needs:

      • General policy: customer prospecting and monitoring, recovery and compensation in case of non-payment.
      • General Policy + Module for unidentified customers: in addition to the above, it also includes the possibility of buying coverage for customers without a grade.
      • General Policy + Annual aggregated deductible: it includes the services of the general policy and the possibility of bearing a certain amount of losses annually that are not covered. After that amount, Solunion would make payment on the claims.
      • General policy + Module for unidentified customers + Annual aggregated deductible: it includes the conditions of the three options.

    What are the requirements?

      • You must be self-employed with a business activity or an SME or company with a turnover between €100,000 and €5,000,000.
      • The maximum insurable sales term is up to 120 days.
      • You must be rated by Solunion with a grade between 1 and 7. If this Grade is 8, 9, 10 or NA, you will not be able to take out Credit Insurance through this policy.
      • Customers in the rental, software, jewelry, construction, metal, retail and textile sectors cannot purchase this policy (for these sectors, the quotes are tailor-made).
      • The countries covered are: Austria, Belgium, Canada, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Slovenia, Spain, Sweden, Switzerland, the United Kingdom, the United States.

    Would you like more information?

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    • We believe in doing things a transparent, clear and responsible way.
    • At BBVA, we offer a wide range of insurance products for protecting both you and your business.
    • We are leaders in digital innovation working to make your life that bit easier.
    • We believe in doing things a transparent, clear and responsible way.

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