A bad debt is simply a debt that can't be recovered. Money owed is one of the largest assets of a business yet it's often not insured. Ask yourself:
- What will happen if your largest client doesn't pay you?
- When did you last review the credit worthiness of your top 20 risks?
- How do you assess a new or potential client in terms of credit?
- How do you monitor your debtor's credit risk factors?
- What do you do when an account becomes overdue?
Trade Credit insurance can protect against a debtor defaulting or becoming insolvent.
Talk to your local Phoenix Insurance Broker today about Trade Credit insurance options for your business.