Commercial Risk Insurance – Domestic (Australia & New Zealand)
Commercial Credit Risk Insurance protects your business and reduces the risk that you will lose financially though some type of non-payment.
This type of insurance can be tailored to fit any size business and it is just a matter of talking to our staff about your particular business needs.
It may be that you want to cover all your customers or perhaps just particular clients that would fall in the high risk category.
Commercial credit risks are generally considered to be factors or events that fall under the control of the buyer and can include:
- Bankruptcy or insolvency
- Not having sufficient funds to pay a debt
- A default that is drawn out because of a refusal to pay for goods or services that have been received
- The cancellation of a contract
- Refusal of the buyer to take delivery of a shipment
- A pre credit risk where the buyer enters into insolvency while the goods are being manufactured and prior to delivery
Some of the features that you can have as a part of Commercial Credit Insurance may include:
- A credit limit that is specified for each of your customers that is decided in consultation with experts and takes into account the buyer’s payment history and their stated financial position
- It may be that you choose to insure with credit limits for particular customers that may be more of a risk
- Annual deductibles and per loss deductibles
- Some exclusions and limitations on coverage
When you have Niche Trade Credit on your side you can feel confident knowing that you are covered in the case of insolvency, bankruptcy and other forms of non-payment.
You work hard to make your business pay and it only makes sense to ensure that your buyers do too.
Talk to us about how we can help you with Niche Trade Credit .
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