What is trade credit insurance?
Trade credit insurance involves insuring companies' trade debtors against default on payment or insolvency.
What are the benefits of insuring companies' trade debtors?
A policy provides protection for a business against non-payment where their debtors are insolvent, or there is a protracted default on payment, and/or there is a political or sovereign risk preventing payment.
What other benefits does trade credit insurance have?
A policy can provide clients:
- Support for existing credit management
- Claim payments to maintain cash flow
- Certainty of its margins and additional security
- Confidence to extend its credit sales and thereby grow its business
- Cover on both domestic and export clients
- Constant monitoring of trade debtors, thereby identifying early warning signs of distressed debtors
What products are available?
The trade credit insurance products available are in vanilla form however, if required, Chief has the experience to tailor a product designed to meet our clients' specific needs.