• Current page is 10.1: Corporate Services
  • 10.1.1: Property
  • 10.1.2: Business Interruption
  • 10.1.3: Liability
  • 10.1.4: Motor
  • 10.1.5: Management Liability
  • 10.1.6: Engineering
  • Current page is 10.1.7: Programmes
  • 10.1.8: Environmental Impairment Liability
  • Current page is 10.1.9: Credit & Surety
    • Current page is 10.1.9.1: Credit
    • 10.1.9.2: Bonds
  • Current page is 10.1.10: Aviation
• Current page is 10.2: Construction Insurance
• Current page is 10.3: Marine Insurance
• Current page is 10.4: Financial Services

Credit

Credit insurance will provide three main benefits to your business:

• It will safeguard one of your largest assets, your debtors, against a serious loss. 
• It will strengthen your credit risk management controls by ensuring that you sell to creditworthy customers. Insurers track over 50 million companies around the world. This extraordinary depth of information will give you the detailed knowledge you need when deciding to extend credit. 
• It will support your sales goals, by freeing you up to expand into new and unfamiliar markets much more comfortably. You can also generate more sales by extending larger lines of credit than you might normally offer if uninsured.  

Other reasons for having credit insurance protection for your business:

• Banks can offer you more favorable finance terms if your debtors are credit insured. By a simple assignment of your credit insurance policy, banks have the satisfaction that their exposure to your business is more secure.  
• Your cash flow is protected by prompt claim settlement rather than protracted legal delay
• You have the ability to offer more competitive credit terms to your customers
• Your suppliers will feel more secure in offering credit terms knowing your business is protected
• An early warning system from insurers will alert you to high risk companies, averting your business from further unnecessary and additional risk
• You can reduce your bad debts reserve and replace it with a known charge; the premium

Insured Turnover - A common misconception is that the seller must insure all of its receivables in a credit insurance programme. While that was the case many years ago, the market has evolved to accomodate many types of programmes, tailored to suit your business. Generally, they cover receivables with due dates from 1 to 360 days. Credit Insurance is also widely available for medium-term receivables such as loans, promissory notes and leases.

Call us now to arrange a quotation for what could prove to be the best insurance product you will buy this year.

Insured Turnover - A common misconception is that the seller must insure all of its receivables in a credit insurance programme. While that was the case many years ago, the market has evolved to accomodate many types of programmes, tailored to suit your business. Generally, they cover receivables with due dates from 1 to 360 days. Credit Insurance is also widely available for medium-term receivables such as loans, promissory notes and leases.

Paul Farrar 

Direct dial: 00 353 1 2020953

Mobile: 00 353 87 2510782

E-mail: paul@affinityinsurance.ie

Credit Risk Enquiry Form

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