Trade Credit Insurance
Why do you need to consider trade credit insurance?
You wouldn’t hesitate to insure your business property and stock. But often Trade Debtors are one of your largest assets - have you considered what would happen to your business if one or more of your key customers default on their payments?
A record £1 million was paid out every day during the second quarter of 2018 to help firms cope with the non-payment of bad debts1. Trade credit insurers paid £92 million to help UK domestic firms cope with bad debts. This is the highest quarterly figure since the ABI started collecting this data in 2007.
- Protect your business from debt
Bad debts can put your financial future at risk. Trade credit insurance provides assurance that lack of payment from a large customer won’t mean disaster for you.
- Rate your customers for credit
The insurer will assess the creditworthiness of your customers and set each of them a specific credit limit, which is monitored regularly.
- Save time
We research the right solutions for your requirements, saving you time and effort to concentrate on what you do best – running your business.
How our trade credit insurance experts can help
Our team can provide expert guidance on your existing financial arrangements to find a solution that best suits your requirements and business objectives.
GET IN TOUCH WITH A TRADE CREDIT INSURANCE EXPERT
Need expert advice? Call the trade credit team now, or complete our online form and we’ll call you.
Trade credit insurance covers more than just bad debts
Trade credit insurance doesn’t just protect your business against bad debts. It can also help you:
- Sell to new customers that may otherwise have been too risky, knowing that you are insured if they cannot pay their debts.
- Avoid losses in the first place and help your business grow safely with additional support and knowledge.
- Secure a better financial position with financial institutes than may have been the case.
- Secure expert business and give you the confidence to explore new markets.
- Offer more competitive terms to your customers.
- Reduce your bad debt reserve, freeing up capital to use elsewhere in the business
Read the latest related articles
As businesses grow, the weight of their organisation will grow with them. Mastering the art of agility in business is not always an easy feat for well established companies. But, as the world changes this is just what’s required in order to ensure longevity and relevance.
Having the right insurance policy is essential to help protect your business from any unexpected losses.