FAQ:

What is Trade Credit Insurance?
By Credit Insurance you can cover the losses occurred in your business. If you want to protect your assets in the company then you should opt for trade credit insurance. It covers credit losses caused by insolvency (bankruptcy), slow payment and, in the case of international transactions, it can also cover political risks.

Is trade credit insurance a new term?
No, trade credit insurance has been sold in the USA for over 100 years. All the carriers that issue these policies are well-established companies that carry at least an "A" rating by A.M. Best.

What will credit insurance do for my business?
Credit Insurance plays an important role in enhancing a company’s financing relationship. Besides it assists companies in several ways such as it protects against the infrequent, but highly severe, catastrophic credit loss. Insured receivables, especially international receivables, make much stronger collateral than non-insured receivables. Most importantly it enables a business to expand both its sales as well as profits. In many cases the additional profits generated by the policy more than pays the premium.

Do I have to cover all of my accounts?
It is not mandatory but depends on what you would like to accomplish, you can insure only your domestic sales, only your export sales or both. You can also carve out an exclusive segment of your receivable portfolio.

Can I extend as much credit as I want to these insured buyers?
There is a specific credit limits depending on your requirements as well as the financial strength of the customer. The accounts will be continually monitored for any change in their financial condition.

Will my customers be notified?
Unless you feel better to let them know it is not necessarily notify your customer. Credit insurance is very much transparent to your customers. You can continue to do invoicing and collections.

How long does the process take?
The application may take 45 minutes to complete and then we can provide a non-binding indication (quotation) from several insurance carriers within a 2-3 week time frame. We will provide an executive two-page summary that will outline premium, deductible, co-insurance, and policy features as well as attach all the formal indications.

Does it cost more to use a broker?
No. Credit insurance policies are typically Inland Marine controlled contracts. This means that whether you go direct and try to figure this out on your own or go through a qualified broker the rates are the same. The value a broker provides is with the evaluation, quotation and implementation of the program. We structure the contract in your best interests - not the carrier's. Also, we assist in mandatory reporting requirements and a pre-claims review prior to claim submission.