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Credit Insurance

Would your business survive cashflow problems?

We know many businesses have constant problems collecting money on time. This can affect business cashflow, personal targets, paying staff wages and ultimately reputation. The good news is that the claims and collection process of a credit insurance policy can help recover the debt.

What does credit insurance cover?

The Risk of not being paid:

  • Insolvency – company cannot pay your invoices
  • Non Payment – company cannot pay your invoices
  • Political Risk – inability of your customer to pay, or your inability to fulfil the contract, due to conditions in their country or a country the goods must pass through

    • The cost to your company is not just the amount of the debt you have written off. The sales effort needed to replace the loss can be considerable.

    Find out more about protecting your cashflow

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    What can I cover?

    • The whole of your sales ledger
    • Single or selected accounts based on size, ledger, market, rather than on perceived high risk
    • Export only, or with the Domestic ledger

      • How does credit insurance work?

      A policy will be designed around the specific needs of your business, as you may incur costs prior to raising invoices, have special payment terms, lengthy manufacturing processes, or legal obligations in the way you supply your product. Therefore, it may be more cost effective and beneficial than credit protection offered by your funder.

      The Three Elements of Protection:

      • Information – the underwriters can provide on line up to date information and intelligence on your customers, which credit rating agencies cannot match
      • Protection – if the worst happens, and your customer cannot pay, you can claim 90% of the debt (or the limit)
      • Collection – slow payment can be collected by the underwriters, supporting your cash flow.

        • Help and advice

        HAE Insurance Services can arrange a completely confidential, free of charge no obligation conversation about how to protect your business from bad debt.

        Get in Touch

        To schedule a call-back from the HAE Insurance Services team call 0330 018 2299 or email insuranceservices@hae.co.uk.

        HAE Insurance Services, EHA Insurance Services, Towergate Insurance and Towergate Credit and Financial Risks are trading names of Advisory Insurance Brokers Limited. Registered in England Company No 4043759. Registered Office: 2 Minster Court, Mincing Lane, London, EC3R 7PD. Authorised and regulated by the Financial Conduct Authority. This can be checked on the FCA`s register by checking the FCA website at fca.org.uk/register or by contacting them on 0800 111 6768.

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