If you’re a medium sized business or larger, did you know it’s becoming increasingly more common to insure against debtors? Previously the realm of larger organisations, more and more medium sized businesses are seeing the real benefits of Trade Credit Insurance to insure against debtors who could – sometimes through no fault of their own - default on your payments. This is particularly pertinent to businesses who rely on a few debtors for the majority of their income.
The main benefits of Trade Credit Insurance are:
Protection for you against the risks of non-payment should your customer go bankrupt or refuse or be unable to pay you
Cover can be tailored to your business
Handy access to a collections service comes as part of the policy
Covers both domestic and international business on the one policy if required
Can help to improve and protect your cash flow
Click here to read further details on Trade Credit Insurance.
You can also have a chat to your Phoenix Broker today about how your company could be exposed to these risks and the options for cover against them. Call us on 9367 7399 or email phoenixins.com.au