TRADE CREDIT INSURANCE
What is Trade Credit Insurance?
Trade Credit insurance is designed to protect your company’s debtors ledger, perhaps its biggest asset, in the event of your client’s insolvency and/or payment default. Should either of these occur, Trade Credit Insurance will seek to reimburse your business for up to 90% of the loss incurred.
Who needs Trade Credit insurance?
If your business extends credit to its customers and couldn’t afford for one or more of those accounts not to be paid, you need Trade Credit Insurance.
What does Trade Credit insurance cover?
Trade Credit Insurance covers the following events:
- Non-payment of invoices as a result of customers’ insolvency or inability to pay
How much Trade Credit insurance is enough?
This will ultimately depend on the value of your debtors ledger, however we generally recommend our client’s insure as much as legally possible.
For more information on Trade Credit insurance and the important role it can play in helping to protect your business, please contact us via the form below.