Trade Credit Insurance provides cover for businesses for an insured loss incurred due to non-payment of a domestic or overseas invoice as a consequence of insolvency of the end customer or non-payment after an extended period of delay (protracted default).
The policy can include political risk cover, pre-credit, or work in progress as well as trade specific clauses usually associated with certain trade sectors such as recruitment, finance, advertising, meat, fruit & veg and construction.
There are various types of policies available. These include whole turnover, single or multi debtor, export, domestic, group programmes, catastrophe, losses arising, losses attaching, balance outstanding, top up or our unique syndicated approach (aggregated limits from more than one Underwriter).
Due to the many options available it is the role of a Specialist Broker such as EFCIS to assist an insured in negotiating a policy that covers their specific requirements and to secure maximum available debtor credit limits at a competitive premium.