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Credit Insurance

Financial protection is usually top of the agenda for the majority of business owners. Credit Insurance transfers the risk away from a business to the credit insurer, protecting the policyholder if their customer were to become insolvent or fails in paying its trade credit debts.

Credit insurance provides cover for businesses if customers who owe money for products or services do not pay their debts. This can also be extended to cover when payment terms are not kept to and payment is deemed late.

In essence, credit insurance gives businesses the confidence to extend credit to new customers and improves access to funding, which in some cases leads to more competitive rates.

There are several different types of credit insurance on offer:

  • Fully comprehensive: Covers your whole customer base against loss, due to both insolvency and protracted default for both domestic and export trade on credit terms.
  • Selective cover: Designed to cover only your larger buyers, selected markets or any other criteria agreed with the insurer in advance.
  • Single buyer cover: Designed to cover only a single debtor of your choice.
  • Top-up cover: If the existing insurer is unable to provide a credit limit, some insurers will top up cover to the levels required. This can be provided on a comprehensive or selective basis.
  • Bespoke: The trade credit insurance market can work with you to tailor a solution to your precise needs, whether you’re looking to outsource your credit management or seeking to mitigate your credit risk.

We can enable you to:

  • Clearly define your current and future insurance needs
  • Formulate the most appropriate credit insurance purchasing strategy
  • Access the best products and services to fit your long-term needs
  • Translate your insurance arrangements into a source of additional business value and competitive advantage
  • Structure credit insurance policies that unlock trade finance or, for trade financiers, putting in place well rated security to support trade receivables financing.

For more information, please do not hesitate to contact us.

Speak to an expert

Concerned about your company? Call Simon Lowes, Insolvency Specialist, or fill out the form below for a callback.

0333 009 6866
Thank you for contacting us, we will be in touch soon.

Speak to an expert

Concerned about your company? Call Simon Lowes, Insolvency Specialist, or fill out the form below for a callback.

Thank you for contacting us, we will be in touch soon.
CreditMan | Simon Lowes

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