TRADE CREDIT INSURANCE
Many business owners are only too aware of the damage that bad debts can have on the health of a company. Unfortunately, bad debts are a fact of life, and the effect of a major loss could wipe out a year’s profit or potentially worse.
If you are looking to expand your business into new markets or territories but are worried about the risk of non-payment or complicated collection & legal situations, a bespoke Trade Credit Insurance policy could make perfect business sense.
Put simply, a Trade Credit Insurance policy will indemnify you following the insolvency or default of your trade credit customers. A policy will provide valuable information on potential new customers as well as existing accounts. It is commonly referred to as ‘sleep insurance’ as it allows you to concentrate on running your business without worrying about your largest customer going bust.