Trade Credit Insurance
Helping to protect your business - manage risk, enhance working capital and support growth.
Helping to protect your business - manage risk, enhance working capital and support growth.
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What is Trade Credit Insurance?
Trade Credit Insurance repays you in the event of non-payment of invoices for goods or services.
Replacing crucial lost capital on your balance sheet, a credit insurance policy gives you access to a wealth of quality financial information. Complementing your credit management, the insurance policy can be integrated into your finance and sales functions enabling you to make smarter decisions and focus on business growth.
How does it work?
Goods or services are sold to both new and existing customers.
These goods and services are typically sold on credit terms ranging from 30-90 days from invoice date.
Sometimes your customers can’t pay as agreed.
Insurers examine customers credit worthiness and provide cover for future trading.
Future invoices are insured, and if your customer can’t pay or defaults you are compensated for your loss.
What types of Trade Credit cover are available?
Individual/Key Buyer Insurance
Protecting your key risks under a single policy.
- Credit Limit in place for the period of the policy
- Non-payment default, insolvency and political risk cover.
- Spot Transactions, repeat contracts or cover for a small portfolio of buyers.
Whole Turnover Insurance
Protection for non-payment of goods or services provided on credit terms across your whole ledger.
- Real time buyer credit assessment allowing you to make informed decisions when trading.
- Various levels of excess available, whilst offering attractive premiums due to spread of risk.
Exceptional Loss Insurance
Cover provided for a sizeable loss impacting your business.
- Insuring a portfolio of buyers.
- Excess of Loss structure with higher levels of risk share with the insurer.
- Peace of mind that the business is protected from a catastrophic loss.
Surety
Organisations may be required to issue various Performance Guarantees. It’s common practice to use Bank Guarantees or Letters of Credit for this. We can replace these with an unsecured surety solution which does not tie up any corresponding funds and unlocks working capital.
The Benefits of Trade Credit Insurance
PIB’s Trade Credit & Surety division specialise in offering tailored nonpayment solutions that mitigate credit risk whilst enabling sales growth. We are a team of dedicated and professional individuals who strive to give high-standard service that compliments clients credit management. From SME’s to large multinational corporations, our team of experts work with businesses to enable them to trade with confidence. We have access to markets and partners globally and can advise businesses on bespoke credit insurance and non-payment solutions that allow clients to maximise the benefits available to them.
- Protect your cashflow and reduce your exposure to nonpayment risk.
- Flexible solutions that can be tailored to meet every business need.
- Trade with confidence, whilst promoting business growth.
- Remain competitive by offering attractive payment terms to clients and prospects.
- Enhance working capital by attracting greater funding lines at competitive rates.
- Gain access to a vast range of insurer information that can enhance your credit management processes.
Working Capital Enhancement
PIB Insurance Brokers provides a variety of Credit Insurance and Surety solutions to help improve Working Capital cycles, reduce costs associated with funding and transfer risk. Typically, credit solutions are used to replace collateral, improve financing and enhance credit risk. PIB’s goal is to try to ensure that clients obtain a tangible financial benefit in excess of their premium spend.
Trade Receivables
A traditional credit insurance offering helps to mitigate bad debt risk, and in conjunction with funding improve your working capital and reduce Net Debt.
Trade Payables
Improve credit terms with suppliers and financiers, by proactively sourcing credit insurance capacity on your business.
Contingent Liabilities
Replace Bank Guarantees and letters of credit to unlock working capital. Surety facilities can be used to support an array of commercial and contractual guarantee requirements.
Our Trade Credit Team
PIB’s Trade Credit & Surety division specialises in offering tailored non-payment solutions that mitigate credit risk whilst enabling sales growth. We are a team of dedicated and professional individuals striving to deliver high-standard service that compliments clients credit management.
From SME’s to large multinational corporations, our team of experts works with businesses to enable them to trade with confidence. We have access to markets and partners globally and can advise businesses on bespoke credit insurance and non-payment solutions that allow clients to maximise the benefits available to them.
Our team understands the challenges and risks that businesses face, even more so in the current economic climate. We are committed to supporting businesses, helping our clients protect their largest asset whilst encouraging growth.
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