The credit insurance helps business owners insulate themselves from the risk of non-paying customers.
Sweeping changes in the international political landscape and widespread market deregulation have made trading the driving force in our worldwide economy. But expanding sales and building new customer relationships can leave balance sheets vulnerable. Economic downturns, privatization of public entities and inconvertibility or non-transfer of currency can leave your customers unable to pay what they owe. And often by the time customer insolvency or credit loss if foreseen, it’s too late to protect the company’s account receivable. Accounts receivable can make up nearly 75 percent of a company’s current assets. And like all major balance sheet assets, they require insurance protection.
Credit Insurance provides the security companies need to compete in today’s global market and this policy typically covers:
*Non-payment/ Realization of Invoice due to the failure of the buyer to pay.
*Any Legal costs incurred (with prior consent of the Insurer) for Recoveries.
Please be aware that this specialty cover is not freely granted by the Insurers on account of its vulnerability of losses and moral hazards of the Customers.