Credit Insurance protects your trade receivables against both commercial and political risk, and gives you the confidence to extend credit to new and existing customers (domestic and export) to aid growth, whilst minimizing the risk of unexpected losses.
Types of Cover Available:
Whole Turnover / Comprehensive Cover
The most common form of credit insurance cover available. Whole turnover policies are designed to cover a company’s entire ledger / customer base against the risks of insolvency and default (non-payment) and typically offers 90% cover with a nominal / small excess.
Single Risks
Single Risk cover is designed for clients with a high concentration of exposure with a single debtor whose failure would have a significant impact on the company’s cash flow, and typically represents approx. 60-70% of the ledger.
Top Up
Top Up cover offers an additional layer of cover above an existing Insured limit provided by a primary Insurer, and subject to the agreement of the primary Insurer can offer up to a maximum of 100% of the underlying limit.
Excess of Loss
Excess of Loss offers protection to medium / large companies with strong credit management credentials and large exposures, who are willing to accept a level of risk share.
Principal Customer / Top Accounts
Principal customer or top accounts cover provides protection for major exposures only, and cover can be provided above a minimum qualifying level or for a fixed number of top accounts / customers.