Occasionally an insurer cannot offer the full level of cover needed by a policyholder on a particularly large exposure. This may be for seasonal trade or more permanent increases in exposure. The “top up” market deals with these situations where assistance from a second insurer is necessary to fully secure the level of cover needed. Both insurers must be aware of the involvement of the other.
- Additional Layer of cover (credit limit) above Primary Insurer
- The Secondary insurer can Top Up upto 100% of primary cover
- All terms of secondary insurer match those of the primary insurer
- Premium calculated on the value of the secondary limit, and can be fixed or adjustable.