Trade Credit Insurance

Trade credit insurance protects businesses from bad debts and the risk of customers not paying within this world.

If you provide goods or services on credit and your customers are companies, credit insurance is a valuable tool for managing your debtors. With credit insurance, your company is protected against non-payment, ensuring that your invoices are covered and you receive payment even if your customer is unable to pay.

A major buyer defaulting on its payments is one of the most frequent causes of company insolvency. Bespoke Trade Credit insurance can inject confidence and power new opportunities, especially in businesses that trade internationally. We also offer a wraparound service to help you expand safely, at a pace that suits you.

Trade Credit Insurance policies compensate a seller of goods or services if their buyer fails to pay, either through insolvency or protracted default. Policies are designed on a sales turnover basis.

Cover options include:

• Whole-turnover
• Selective accounts
• Single contract
• Domestic / export
• Political risk
• Special risks

How does Trade Credit insurance work?

We will analyse your clients’ credit risks, and set a credit limit for each of them. You continue to trade with your clients as usual. If one of your client's defaults on a payment up to their agreed credit limit, notify us. We will work with the insurer to organise a debt collection and get you your money back.

If the debt collector can’t collect all of the payment that you were due, we can help you submit an insurance claim. In this instance, the insurer could pay up to 90% of the insured debt and the collection expenses.

Industries where credit insurance is important:

• Agriculture & Horticulture
• Construction
• Financial services
• Food & Drink
• Manufacturing
• Oil & Gas
• Paper & Printing
• Recruitment
• Retail
• Wholesalers
• Logistics/distribution
• Textiles
• Pharmaceuticals