Credit guarantee insurance is an insurance with credit risk as the insurance subject. It is actually an insurance business in which the insurer (guarantor) provides credit guarantee for the debtor (guarantor) in the credit relationship. In terms of business habits, the insured can be divided into credit insurance and guarantee insurance because of their different status in the credit relationship.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.