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Your search for Annual General Insurance Overview Statistics 2014 resulted in 25 hits

• Business interruption insurance

  Business interruption insurance will covers you for periods when you cannot do business as normal

• Business insurance

  Business insurance can help to protect you or your company against unexpected costs.

• Insurance for self-employed workers

  Being self-employed can offer numerous benefits, such as flexible hours and the opportunity to work with a wide range of people, but self-employed workers can also face financial vulnerability. There…

• Insurance for small businesses

  If you run your own small business – or you’re thinking of starting one – business insurance can help offer protection for all your hard work. There are a few different types of policy out there, so…

• FAQ

  Who should get a trade credit insurance policy?

  Trade credit insurance can be suitable for companies trading on credit terms and insurers can provide cover to businesses of all sizes from SMEs to multinationals.

  If you are interested in taking out trade credit insurance you can speak to a general or specialist credit insurance broker. Their knowledge can help businesses get the most appropriate cover for their needs at the best price. Alternatively, businesses can also buy credit insurance directly from an insurer.

• Trade credit insurance FAQs

• What is trade credit insurance

  Trade credit insurance covers businesses if buyers who owe them money do not pay their debts, or pay them later than expected.

• FAQ

  When does credit insurance pay out?

  Trade credit insurance will pay out a percentage of the outstanding debt to a business. This usually ranges from 75% to 95% of the amount, depending on the type of cover the business has.

• Why should businesses take out trade credit insurance

  Trade credit insurance helps businesses to safely sell more to existing customers, or expand to new customers.

• FAQ

  Why would businesses need trade credit insurance?

  The main reason a business would take out trade credit insurance is to reduce financial implications if a customer fails to pay. Without trade credit insurance in place, many more companies would suffer large financial losses, redundancies and put the business’ existence at risk. 

  However, trade credit insurance does not just protect businesses against any losses as a result of a customer being unable to pay their debts. Trade credit insurance also:

  • Helps businesses sell to new customers that may otherwise have been deemed too risky, knowing they are insured should the customer not pay their debts.
  • Provides additional support and knowledge to help the business avoid losses in the first place and help them grow safely.
  • Provides comfort to banks that the insured has a more secure financial position than otherwise may have been the case, which may in turn enable businesses to access additional bank finance.
  • Helps secure export business, giving confidence to explore new markets and being able to offer more competitive terms.
  • Helps free up capital for the business to use elsewhere, through a reduction in their bad debt reserve (an amount businesses expect not receive because some customers fail to pay).