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Trade credit insurance covers you from debtor default and protects business liquidity. Companies once considered ‘blue chip’ have become high profile business failures. This has had a domino effect on their suppliers and a profound impact in the market place.
Trade credit insurance covers your losses if a debtor doesn’t pay you. It gives you stability through assurance of payment.
Any company that sells goods or provides services on credit terms is at risk of non-payment. Even companies with the soundest credit control processes are vulnerable. Trade credit insurance is a practical solution for business owners, and will mitigate your credit risk exposure.
Trade credit insurance policies:
Trade credit insurance policies are generally flexible and allow a policyholder to cover all or part of their portfolio by choosing from:
Policies are usually written on a 12-month renewable basis but can be negotiated up to a 36-month tenure, covering goods and services delivered or dispatched to approved customers during the period. The policies cover you up to 90% of the amount owing, premiums are cost effective and a planned tax-deductible cost.
To learn more about credit insurance and protection for your business risks contact us today.