Credit and surety insurance services
CPC v2.1 Code: 71336
About credit and surety insurance services
cpc code 71336 covers the provision of credit and surety insurance services. This industry plays a crucial role in facilitating trade and commerce by mitigating financial risks associated with lending and contractual obligations. Credit and surety insurance services are an integral part of the broader financial services sector, supporting the flow of capital and enabling economic growth across various industries.
Production process
The core production techniques in this industry involve the underwriting and issuance of credit and surety insurance policies. Underwriters assess the creditworthiness of individuals or businesses, evaluate the risks involved, and determine the appropriate coverage and premium rates. This process involves the analysis of financial statements, credit histories, and other relevant data to determine the likelihood of default or non-performance. Insurers then issue policies that provide protection against such risks, allowing policyholders to engage in transactions with greater confidence.
Production inputs
The main inputs required for the credit and surety insurance services industry include a pool of skilled underwriters, actuaries, and risk management professionals. These individuals possess expertise in financial analysis, risk assessment, and policy design. Additionally, the industry relies on access to comprehensive data sources, such as credit reports and industry databases, to inform their underwriting decisions. Technological infrastructure, including software for policy management and claims processing, is also a critical input for this industry.
Production outputs
The primary output of the credit and surety insurance services industry is the provision of credit and surety insurance policies. These policies protect policyholders, such as lenders, suppliers, and contractors, from financial losses due to defaults, non-performance, or other contractual breaches. The outputs of this industry are consumed by a wide range of industries, including 52211 Commercial banking, 52222 Sales financing, and 23 Construction.
Family tree for credit and surety insurance services
graph LR
A["<a href='/classifications/cpc/v2-1/7'>7: Financial and related services; real estate services; and rental and leasing services</a>"]
A --> B["<a href='/classifications/cpc/v2-1/71'>71: Financial and related services</a>"]
B --> C["<a href='/classifications/cpc/v2-1/713'>713: Insurance and pension services (excluding reinsurance services), except compulsory social security services</a>"]
C --> D["<a href='/classifications/cpc/v2-1/7133'>7133: Other non-life insurance services (excluding reinsurance services)</a>"]
D --> E["<a href='/classifications/cpc/v2-1/71336'>71336: Credit and surety insurance services</a>"]
D --> F["<a href='/classifications/cpc/v2-1/71331'>71331: Motor vehicle insurance services</a>"]
D --> G["<a href='/classifications/cpc/v2-1/71332'>71332: Marine, aviation, and other transport insurance services</a>"]
D --> H["<a href='/classifications/cpc/v2-1/71333'>71333: Freight insurance services</a>"]
D --> I["<a href='/classifications/cpc/v2-1/71334'>71334: Other property insurance services</a>"]
D --> J["<a href='/classifications/cpc/v2-1/71335'>71335: General liability insurance services</a>"]
D --> K["<a href='/classifications/cpc/v2-1/71337'>71337: Travel insurance services</a>"]
D --> L["<a href='/classifications/cpc/v2-1/71339'>71339: Other non-life insurance services</a>"]
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