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Trade Credit Insurance

Trade Credit Insurance

Trade Credit Insurance - Does your business have accounts receivable? If so, consider reducing your risk exposure from default on the payment of your invoices. Talk with an Insurance Broker about your trade credit insurance requirements.

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Steven Bobbermen

T&G Insurance Brokers was founde...

Trade Credit Insurance

Trade Credit Insurance is insurance that protects your business from financial loss experienced by bad debts. Sometimes Trade Credit Insurance can be called debtor insurance or accounts receivable insurance. 

 

Trade Credit Insurance provides coverage for your accounts receivables and provides cover for unpaid invoices which may arise due to customer bankruptcy, political risks and defaults.

Trade Credit Insurance provides coverage to businesses for risk and exposure faced by businesses accounts receivables. 

Trade Credit Insurance may provide coverage for accounts receivable from the following risks:

  • Client bankruptcy.
  • Client default on invoices.
  • Political risks that cause delay or default on receivables.

 

What is key to remember is that the cost of Trade Credit Insurance is often a function of the coverage being provided, so cheaper Trade Credit Insurance may not always offer the same levels of coverage as more expensive alternatives. You want to consider your coverage requirements first, and then seek to find and determine the costs associated.

Using an Insurance Broker for your Trade Credit insurance needs ensures that your business has managed its risks. Every business is different and an insurance broker can help by assessing your unique business risk profile and providing advice on the best insurance cover, including Trade Credit insurance for your business. An insurance broker will also help when it comes time to claim, advocating for you to negotiate the best outcome in the settlement of your claim with the insurer.

So whether it's non-payment of a debt owed by a client, contract repudiation or political risk, your Insurance Broker can assist you to be covered.

Customers

Insurance brokers operate on behalf of their customers. Insurance brokers understand both the potential risks that an individual or business may face and also the various insurance policy options and insurance providers that exist across the market.

Insurance brokers can help customers with hard to place risks to find an insurance provider that can meet their needs.

Asking for recommendations from others in your industry or area is a good place to start in looking for an insurance broker. You can search for that insurance broker on Advisr by name.

You can also search for an insurance broker by the type of insurance you need (insurance category), by your industry or by location depending on what is most critical to you. You can learn more about what a broker is like to work with by reading customer reviews left on Advisr. Educating yourself and reading articles by insurance brokers that explain different insurance lines, or dissect exposure to risk in different industries also helps you to find and select an insurance broker that understands your business or personal risk. We have hundreds of articles on Advisr to help you understand your insurance needs and find an insurance broker right for you.

Insurance brokers help clients to reduce their risk by sourcing and matching their clients with appropriate insurance products. Insurance brokers work for their customers. Insurance brokers focus on understanding their customers' risks and exposure and their insurance requirements.