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Trade Credit Insurance
Use trade credit insurance to trade with confidence
Credit insurance protects your business against the risk of non-payment by your customers. It safeguards you against losses due to bad debts.
Essentially, it provides coverage for accounts receivables, ensuring that you will receive payment for goods or services in case your customer defaults or is unable to pay due to bankruptcy, financial difficulties or political risk events.
This form of insurance helps you to manage your cash flow, to optimise your working capital and to mitigate your credit risk, and typically covers both domestic and international transactions.
Why Howden?
At Howden, we tailor trade credit insurance to your specific needs, giving you the confidence and security to seize new opportunities for your business, while providing the peace of mind you need to grow.
Our service does not end with negotiating and setting up of a policy. As trade credit insurance gets ingrained in your organization’s credit management and financial processes, it has an impact on the sales, delivery and payment terms you establish with the customer. With our continued service and support during the lifetime of your trade credit insurance policy, we help you do business with your customers as flexibly and profitably as possible.
What is Trade Credit insurance?
Learn more about the benefits of Trade Credit insurance.
Our cover options include:
- Whole turnover
- Key account
- Single buyer
- Single risk (transactional)
- Top Up insurance
- Non-cancellable limits
- Domestic and/or export trade
- Political risk
Who is trade credit insurance for?
Every business that trades on credit terms, where there's a risk of non-payment as a result of providing goods or services.
Trade credit insurance: a strategic approach
There's more to trade credit insurance than just protracted defaults and insolvencies:
Prevention
Trade credit insurance plays a preventive role by safeguarding your businesses against potential customer payment default.
Credit insurers are getting updated with financial data and potential payment or cash flow issues of the businesses you are dealing with or intend to deal with.
With this information, you make an informed choice about which companies to do business with and on which credit terms.
Market intelligence
Access to market insights can help you focus your sales efforts on companies that have a good payment reputation. Trade credit insurance will protect your cash flow and will help grow your turnover.
Credit management
Trade credit insurance can serve as a guide to effective credit management and the optimisation of your order-to-cash process.
Collection & indemnity
If your customer does not respond positively to your dunning & collection actions, your insurer will, a certain amount of time after the due date (maximum extension period), take over the collection process. Through one of their internal or external collection teams they will try to collect the debt by amicable or legal means. If the insurer is unsuccessful in collecting the debt, they then will pay you the claim indemnification.
As your insurance broker we will be with you every step of the way, to guide you through these processes.
Meet the Team
Jelle Cortoos
