Business Insurance Specialists Pty Ltd can assist you with all of your Trade Credit Insurance needs. Trade Credit insurance is designed, in the simplest terms, to protect you from bad debt resulting from your client’s insolvency.
If your business revolves around the sale of goods or services, and if you allow other business customers or clients to pay for those goods or services on credit, then you are likely going to want a credit insurance policy for your business.
If you operate a business that has credit terms, your accounts receivable tends to end up with a long list of debtors. Instead of payments for goods and services going directly into your business accounts if you have cash terms, it gets stuck in accounts receivable until your debtors actually finalise the payments. As a result, if one of your debtors goes into insolvency or protracted default, your business can end up - to use an old clichéd phrase - up the creek without a paddle.
With access to all the major insurers that participate in this area of coverage, we assist you in obtaining the right Trade Credit (also called Debtors Insurance) policy.
Business Insurance Specialists Pty Ltd main aims for our Trade Credit insurance clients are to: