Trade Credit Insurance
Utilised to protect your business from bad debt risk, helping to preserve cash flow.
Business Insurance |
Transactional Risks Insurance |
Trade Credit Insurance transfers bad debt risk, protecting your cash flow.
Bad debts. There is nothing more frustrating than not getting paid for the work and services you have provided.
It can be a destabilising situation; plans you had for the cash go out of the window. You may have to self-finance or write off the debt, leading to strategic changes, undermining competitiveness, and even causing a business to fail.
Trade Credit Insurance can support your business by transferring the risks of bad debts to an insurer, which can ultimately protect your cash flow.
Who can benefit from Trade Credit Insurance
Any business can purchase Trade Credit Insurance but typically we arrange it for the following sectors:
- Removals and Storage
- Recruitment
- Wholesale and Distribution
- Manufacturing
- Import and Export
- Construction
- Engineering
Why Trade Credit Insurance?
- Bad Debt Recovery – your insurer will try to recover or payout for the loss of income due to bad debts.
- The client went out of business – your insurer will settle the unpaid losses.
- Credit checks – Offer clients competitive credit terms to win and retain business.
- Monitoring service – protect your cash flow; be kept up to date with the creditworthiness of clients.
- It can help improve banking relationships and access to finance.
What does Trade Credit Insurance cover?
TCI is an insurance contract that passes the risk of unpaid invoices (trade debts) to the insurer. It’s useful because it can avoid lengthy, protracted debt recovery proceedings and be used as a strategic commercial tool to help the business grow.
Types of cover
- Whole turnover
- Selective accounts / single contracts
- Top-Up Credit limits
- Domestic / Export
- Political Risks
- Specialist cover
Our Team Of
Transactional Risks Specialists
Questions?
Ready to protect your scale-up with insurance that matches your ambition? Contact us today to start a conversation. Let’s build a insurance roadmap that powers your growth and reflects your values.