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01223 445442

It is worth remembering that a sale is not a sale until the goods or services have been paid for.

Trade credit risk can be reduced significantly by using a credit insurance policy which is designed to protect one of a company’s largest assets; trade debtors.

If your customers fail to pay due to insolvency, protracted payment or an adverse political event, your cash flow will not suffer. We can arrange all policy types including:-

  • Whole Turnover
  • Key Accounts
  • Single Risk
  • Domestic, Export and Political Risks

The Alan Boswell Group Difference

ABG Difference

The highly experienced credit team at our sister company, S-Tech, brings value by understanding the diversity of options available from today’s credit market whilst recognising that your business is unique. We understand that you will need cover correctly tailored to meet your individual needs.

How our customers rate us

Since partnering with S-Tech over 10 years ago, we have received excellent account management with a proactive approach using intuitive knowledge of our business.

Louise Nevard - Head of Credit, Midwich Group PLC.

Credit Insurance in detail

Credit insurance protects your business from financial loss incurred through a customer’s non-payment or insolvency It can also cover disputed debts and losses caused by political events around the world.

Credit insurance is available across all trade sectors and typically pays out 90% of lost revenue, provided you hold an insured limit from the underwriter. Options are available to cover one customer, all your customers or any multiple inbetween.

  • Lost Revenue Typically pays out 90% of lost revenue, provided you hold an insured limit from the underwriter.
  • Transfer Risk Transfers the risk in your trade debtors to an insurer.
  • Trade Types Credit Insurance is available across all trade sectors.
  • Single or Multi use Options available to cover one customer, multiple customers and all customers.

Why use credit insurance?

Credit insurance helps add discipline, structure and control to your credit management process. Here are some of the key benefits of having credit insurance in place:

  • Exporting your export customer’s financial strength may be difficult to ascertain and fully understand, making credit assessment difficult whereas credit Insurers hold huge databases of this information for risk assessment purposes.
  • Working Capital you may use an overdraft to buy in goods before supplying them to your customers. If the customer doesn’t pay, the lost revenue may affect your future working capital and your ability to pay your suppliers.
  • Growth often means accepting more risk by offering higher credit limits to customers whose financial strength you may not fully understand.
  • Cash On Delivery insist on upfront payment and you may lose the customer by not offering credit terms. Credit Insurance can help you work out to which customers you can safely offer credit and how much, helping your business grow with less risk.
  • Credit Reports while you can rely on these from the likes of D&B, this type of information is often based on out of date financial information. Credit Insurers have access to real time information to make fully informed decisions for you.
  • Risk Assessment assessing a customer’s balance sheet and profit & loss account to make a credit limit decision is a specialist skill which is done for you with a credit insurance policy.
  • Monitoring Risk assessing a customer’s balance sheet and profit & loss account to make a credit limit decision is a specialist skill which is done for you with a credit insurance policy.
  • Brexit some economists are now predicting a 15% increase in company insolvencies during the next three years. Retail, construction and metal sectors are considered highly vulnerable.

Downloads

Download the latest version of our credit insurance leaflet

Credit Insurance Leaflet

FAQs

  • No. Credit Insurance is not legally required – but it makes business sense as approx 30% of all business assets are tied up in credit.

  • Credit insurance protects your company against the failure of your customers to pay trade credit debts owed to you. These debts can arise following a customer becoming insolvent or failing to pay within the agreed terms and conditions

Get in touch

Speak directly to our team
01223 445442
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James Monkhouse
James Monkhouse

Account Executive

James has worked within insurance broking since 1999. He has worked for a variety of intermediaries, developing his skills, before joining Alan Boswell Group in…

Mike Young
Michael Young

Account Executive

Mike is a Chartered Insurance Practitioner with more than 30 years’ experience of working for both national and regional broking firms. Mike has considerable experience…

Zoe Kerswill
Zoe Kerswill

Account Executive

Zoe’s first job, when she was just 16, was for Co-op Insurance. A year later she moved to the world of insurance broking. She is…