National Trade Credit Insurance
What is Trade Credit Insurance?
Coverforce is one of the few insurance brokers in Australia who provide the experience and expertise in-house with regard to Trade Credit Insurance.
Broadly defined, Trade Credit Insurance protects your business against losses due to the insolvency or default of account customers in Australia and overseas.
Trade Credit Insurance can be used as an effective risk management tool that can:
- Protect and improve your “cash-flow” - which is literally the "lifeblood" of all businesses.
- Enhances your balance sheet and reduces the cost of finance.
- Increases your sales and profitability.
- Improves and strengthens your credit control and management procedures.
All businesses incur unexpected bad debts at some stage throughout the fiscal cycle. With bad debt, the smaller challenges are managed where relevant. Often, businesses treat those minor losses as "part and parcel of doing business". However, it is the large unexpected losses that can be devastating to a business and in some instances, can lead to financial hardship, supply chain challenges and in a worst case - insolvency.
At Coverforce, policies are tailored to your business and can cover all customers, domestic and export.
Trade credit insurance is affordable and suitable for subcontractors or businesses who sell on credit.
Arranging Trade Credit Insurance
We want to protect your business. Should you wish us to act on your behalf and obtain terms and pricing from a variety of underwriters, we require the following information from you:
- Aged debtors trial balance - showing amounts outstanding in current, 30 days, 60 days, 90 days and 91 days plus.
- A list of clients that became insolvent in the last 3 years. Showing the name and the amount of the loss.
- A list of the top 10 customers showing, ACN/ABN numbers and the maximum exposure you believe you will have over the next 12 months.
To obtain a quotation or further information on Trade Credit Insurance please contact:
|Peter Ghaleb - NSW||Gareth Nicholls - VIC|
D 02 9376 7863
Authorised Representative No. 270377 of Coverforce Insurance Broking Pty Ltd
D 03 9864 4444