Historical antecedents of trade credit insurance (and even of credit derivatives, more indirectly) date back at least to the 1860s, when Johns Hopkins endorsed the notes of persons and firms whom he judged to be worthy credit risks, for a price (of up to 5%), making it easier for a note bearer to discount a note, that is, to sell it to another firm or to a bank. This helped to increase the salability of commercial paper, which stimulated trade, especially in a world before credit cards.
This predates the development of trade insurance against credit risk (and even indirect financial instruments) by at least the 1860s, when Johns Hopkins provided guarantees for individuals and firms he deemed reliable in exchange for a fee. This helped facilitate note sales to other companies or banks.