Trade Credit Insurance is suitable for any business that sells goods or provides services on credit either domestically or overseas. The Trade Credit product covers businesses against the risk of bad debt due to the insolvency or protracted default of their buyers.
Each time a business sells goods or services and extends credit terms to customers, a payment risk is created. Even with sound credit controls in place, a business cannot totally avoid the risk of a buyer defaulting on payment. One key customer failing to pay can have a substantial impact on the cash flow of a business.
What Trade Credit Cover does is ensures that a business is not adversely, perhaps even fatally, affected by the unforseen failure or default of customers.
Assured Insurance Brokers through our strategic partner and ASFL license holder RMS Credit can provide cost effective ways to mitigate this risk exposure to your business.
Contact Assured Insurance Brokers to find out more.