Frequently asked questions
The simple answer is all businesses who extend credit to customers. Our client base spans small and medium sized businesses to global corporations, across all sectors. For many companies, Credit Insurance is just about protecting their bottom line. However, some companies specifically take out Credit Insurance to improve their cashflow by boosting their credit standing. We can provide solutions for either.
Many companies consider the serious consequences of a large bad debt or several smaller ones have on its financial stability. With continued economic uncertainty and rising insolvencies, more companies are likely to experience bad debt. A Credit Insurance policy can provide certainty in an uncertain world.
Absolutely. With Credit Insurance in place, your invoices are protected up to the value you insure. You might go for the full available invoice cover or opt for lower cover options that cost less but still provides protection. Either way if the insurer agrees on your credit limit and you comply with the policy terms, you’re covered for the agreed amount.
The benefit of using us is that we have access to all insurers in the marketplace, including those who don’t deal with businesses directly. As a broker, we’re normally able to negotiate better terms. Our expertise in this field becomes your expertise when it comes to getting the best from your policy. It ensures you’ll always have the right policy in place to meet the exact needs of your business.
Credit Insurance is as flexible as you need it to be. Insuring your whole turnover gives you the ultimate protection but you may simply want to insure the customer who presents the greatest credit risk. That’s where our expertise comes in. We’ll go through your ledger with you and take you through a complete risk evaluation, so that you can make an informed choice.
Each insurer has their own terms. Cost can also vary depending on the associated risk factor for that sector or a particular customer. If you’ve had any previous losses those will also be taken into account. As with any insurance policy, premiums can vary from year to year – which is another good reason to have a broker in place.
The cost is generally calculated as a percentage of the sales you want to cover. It’s our job to get you the best price.
It doesn’t cost you anything for our services as we’re paid directly by the insurer. We’d be happy to provide more details on request.
Of course. We’d be happy to talk through your needs and assess any shortfall in your current policy cover.