Credit insurance provides protection against the effects of a bad debt.
For small to medium sized, SME businesses, credit is vital to trade and when economic conditions become tough, businesses need to be able to trade with some degree of certainty and confidence.
Protecting your business cashflow from a customer insolvency can be arranged on the following basis:
- Whole Turnover
- Key customer accounts only
- One off single risk
- UK cover only
- Worldwide cover including shipping costs
Benefits of Credit Insurance
- Improves cashflow
- Improved access to trade finance
- Assistance with risk management and monitoring of customers, markets and trade sectors.
- Risk avoidance and reduction of bad debt reserve
- Balance sheet protection
- Offers the possibility of being able to negotiate more favourable terms with suppliers
- Peace of mind, through transferring the risk, protecting your business against the effects of a bad debt knowing that if the buyer is covered under your insurance policy, the insurer will pay.
- Protection for Shareholders against loss of profits
- Enhanced credit control procedures
Our credit insurance partner Euler Hermes, have launched a Credit Risk Analyser Tool.
This is a free tool, which can help you quickly access if your customers are at risk of non-payment or insolvency.
Credit Risk Analyser Report shows :
- How the average rating of your customers based on their probability of default prediction has evolved over the past 12 months.
- Where your customers sit within their risk scale.
- Details on your top customers and sectors to identify if you have any customer or sector concentration risk.
- Using insurers risk rating algorithm how much of your turnover is at risk over the next 12 months.