Trade credit insurance protects you against customers failing to pay for goods or services provided on a credit basis, usually due to insolvency or lack of funds. It can assist growth by supporting trade with unfamiliar customers or export markets.
Any company that sells goods or provides services on credit terms is at risk of non-payment due to the insolvency of a key customer (liquidation, receivership or bankruptcy), payment default or continued non-payment by customers.
Trade credit insurance also enables exporters to protect themselves against political risks including contract repudiation, export or import restriction, currency inconvertibility and public buyer default.
The Gallagher trade credit insurance practice delivers tailored insurance solutions to protect your business by providing stability through assurance of payment and further opportunity for growth through expanding sales channels and volumes, making it a valuable strategic tool for increasing turnover and profitability.
Trade credit insurance policies are generally flexible and allow a policyholder to cover all or part of their portfolio by choosing from:
There are multiple benefits to insuring your Trade Debtors:
