Business Insurance
Trade Credit Insurance
Help protect your business against the potential misfortunes of your customers.
If you trade or sell goods on a credit basis, you’re at risk of bad debt or non-payment by customers. This can disrupt your cash flow and leave you out of pocket.
Here’s what you need to know!
Who should consider Trade Credit Insurance?
All registered businesses that sell goods and services on credit terms, such as 30 days to pay, should consider trade credit insurance. This includes businesses that trade domestically and internationally.
Some trade credit insurance policies also offer the bonus of working with designated collection agencies to help you recover your debts – taking the pressure off this difficult and time-consuming process.
What can Trade Credit Insurance cover?
Depending on the policy, trade credit insurance can be either:
- Comprehensive cover: Protecting your entire credit portfolio, including domestic and export customers.
- Excess of loss: Suitable for businesses with strong internal credit management processes who want cover for exceptional loss across their entire portfolio.
What isn’t covered under Trade Credit Insurance?
There are exclusions. There is also often a deductible or excess and limits on cover. Please contact us at JGM Insurance Brokers for more information and we will be happy to help you.