Trade credit insurance
You expand your business, establish cooperation with new clients, search for new markets, you want to increase competitiveness of your offer by accepting terms of payment, but granting a trade credit carries the risk of non-payment for shipped commodities or services provided. Trade credit insurance is one of the most effective tools supporting You in business. With trade credit delays of several months in the payment of the invoices or the insolvency of the contractual partner are risks which consequences you can minimize.
RiskMan will analyze your sales model and portfolio structure of your customers. Based on a throughout analysis of the insurers offers, we recommend the most suitable policy. We negotiate with the selected insurance company the most favorable terms of coverage, considering the cost, scope, level of service and flexibility of solutions.
Accounts receivable insurance will not only provide your business with compensation for unforeseen sales losses, but also assess and monitor counterparty risk and collect overdue accounts. With insurance coverage, you will better manage your trade credit, you will more easily obtain financing from a bank or factor, and you will be more competitive.
On the Polish market there are several trade credit insurers, who offer diverse terms of security, a variety of products and insurance solutions. They should, however match specificity of Your business activity, and meet Your expectations and requirements.
RiskMan always represents Your interests towards insurance market and guarantees a suitable insurance model with the broad knowledge and experience of its experts.
Our specialty are cases difficult and unusual
- How to negotiate such conditions so that they meet specific requirements of your company?
- What to do if your insurer refuses to pay the indemnification?
- How to get security without self-retention?
- How does the bad debt relief influence a claim payment?
- Does the contract with you buyer from Russia or Ukraine fulfils the criteria of insurance?
- How to insure only one transaction?
- What should be done if the insurer has granted to your buyer an insufficient credit limit?
- Should I choose a non-recourse factoring based on own policy or use my factor’s policy?
We know the answers to this and many other questions and can help you.
Remember that
You can cover with your Trade Credit Insurance all your buyers that you cooperate with (Whole turnover policy)or just the selected ones(Single risk). Insurers also offer additional security over the granted credit limit (Top Up Cover), or trade credit insurance based on credit risk procedures (Excess of loss)used in Your company. Trade credit insurance is demanding not only when it comes to the level of complexity but also when it comes to necessary service during the contract period and requirements set by insurer, that unfulfilled might cost you loss of insurance. Negotiating optimal contractual parameters, controlling the current implementation of the contract, meeting the contractual obligation, commitment and systematic approach.
What can we do for you.
While considering decision to protect your receivable, looking for insurer or examining offers from insurance companies you can benefit from knowledge, experience, and familiarity with market of RiskMan.
Starting our cooperation, we will analyze distribution model and your client’s portfolio structure, we’ll check risk and credit management procedures. Based on obtained information we will be able to identify possible threats, recognize the risk and evaluate the scale of possible losses. Based on analyzing Your needs and requirements we will prepare insurance program containing best possible terms and conditions. We prepare questions to selected Insurers and will give you a reliable analysis together with our recommendation for the most suitable one. We will negotiate the most beneficial terms while including scope, costs, service standard and solutions flexibility. Summing up the analysis of offers we will recommend you the best insurer and best product, that suits your company needs the best and is the most beneficial to you in terms of finances. After the conclusion of the contract, we will be supporting and guiding Your employees in handling the policy and fulfilling the obligations that insurer imposes. We will also be involved in the process of claims handling. If your insurer has declined a claim, we will represent Your company in the court case against the insurer.
