Trade credit insurance can help you trade with confidence
Our solutions can be tailored for companies of all sizes and across all sectors, providing an effective solution to help mitigate risk and support your business decisions. Trade credit insurance typically includes several key covers designed to protect businesses from the financial risks associated with extending credit to customers. Your bespoke cover can be customised to include solutions such as:
- Whole-turnover
- Excess of loss
- Single/multi-buyer
- Catastrophe cover
- Principal cover/key account insurance
- Top-up credit limits
- Political risks
- Fraud cover
Ensuring business stability: A case for trade credit insurance
In a scenario, where a small manufacturing company supplies parts to a large retailer. If the retailer suddenly faces financial trouble and can't pay their invoices, the manufacturer could be left in a difficult position. With trade credit insurance, the manufacturer would be protected against this loss, ensuring their cash flow remains stable.
Help protect your business against the risk of non-payment
Safeguarding your company against the risk of non-payment is more crucial than ever. Trade credit insurance offers a strategic approach to mitigate these risks, helping your business remain resilient and financially stable. This insurance not only supports business growth by freeing up capital but also provides valuable insights into the financial health of your client and supplier portfolio. Our team works with you to develop strategies that help:
- Protect your business against the risk of non-payment - Following the sale of goods and/or the provision of services on credit terms when your business is faced with unpaid invoices or an unexpected bad debt
- Safeguard against the domino effect - When the impact of an insolvency reverberates down the chain, affecting connected customer and suppliers with bad debt
- Support business growth - By reducing bad-debt reserves, capital can be reinvested back into the business
- Provide access to financial health insights and analysis - On your client and supplier portfolio, along with comprehensive knowledge of companies, countries, sectors, and economic trends
- Help grow sales by enabling competitive terms - Providing confidence to pursue new customers, enter new countries, or diversify into new products. It can assist in attracting new and retaining existing customers
- Help reassure your financial partners - Instilling confidence in your bank or shareholders regarding the financial stability of your company and increasing their willingness to secure your financing
- Strengthen and reinforce credit management procedures - Which play a critical component in the financial management of businesses
- Serve as an effective alternative solution - When compared to other methods of non-payment protection such as letters of credit, with a variety of products to choose from to suit your requirements
How Gallagher can support your business
As one of the largest trade credit insurance brokers in the UK, we have a team of highly skilled and experienced specialists who understand the complexities of the UK corporate market. Our experienced credit risk insurance specialists can design insurance programs to help protect the cash flow of a wide range of companies, from small businesses needing simple policies to multinationals requiring innovative global solutions.
