Protect what keeps your business moving
When you sell goods or services on credit terms, a customer default can leave a significant gap in your cash flow. Trade credit insurance can protect income and business assets against covered non-payment, giving you greater confidence when dealing with existing customers or pursuing growth.
Who should consider it?
This cover may suit registered businesses that sell domestically or internationally on credit terms, including businesses offering 30-day accounts. Some policies can also provide access to designated collection agencies to assist with debt recovery.
What can it cover?
Depending on the insurer, policy and options selected, cover may include:
Comprehensive cover
Protection across an eligible domestic and export credit portfolio.
Excess of loss
Protection against exceptional losses for businesses with established internal credit-management processes.
Single buyer cover
protection for an eligible individual buyer or credit risk.
Key account cover
Focused protection for major buyers, with options that may include non-cancellable credit limits and deductibles.
Important considerations
Policies may exclude losses caused by a failure to comply with contract terms, invoicing timeframes or applicable laws; missing import or export licences; and interest, penalties, legal or banking costs and exchange-rate movements.