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Trade Credit Insurance

What is trade credit insurance?

Trade credit insurance provides cover for businesses if customers who owe money for products or services do not pay their debts, or pay them later than the payment terms dictate. This could result from businesses not being able to pay for goods and services delivered as the result of Coronavirus. For further information, read our guide here.

Is there any business cover against suppliers going insolvent? 

Trade credit insurers do not provide cover for loss of production volume or the insolvency of a supplier, only the failure of a customer to pay for purchased goods. It is primarily insurance to cover the potential failure of a customer to pay for goods and services rendered in the event of insolvency or in the event of late payment.

Is my business covered by insurance against delays in payments across the supply chain? 

Trade credit insurance provides coverage for delayed payments, ensuring that late payments do not put your company under financial strain.

What if I am trading with a region affected by Coronavirus?  

Insurers will assess trade on a case by case basis for those countries/regions that are experiencing the most severe impact of the virus. Insurers may set specific conditions or credit levels for such trade.