Credit Insurance
DP Insurance Consultants
Credit Insurance
What is Credit Insurance and What Does It Cover?
Credit insurance is a financial tool designed to protect businesses from the risk of non-payment by their customers. It ensures that your company remains financially stable, even if clients fail to pay their invoices due to insolvency, prolonged default, or other unforeseen circumstances.
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What is Credit Insurance and What Does It Cover?
Key Coverage Areas of Credit Insurance
- Customer Insolvency: Protects against losses if a customer declares bankruptcy or becomes insolvent.
- Protracted Default: Covers situations where customers delay payments beyond the agreed terms, threatening your cash flow.
- Political Risks: For international trade, it shields against non-payment due to political events, such as war, sanctions, or currency restrictions.
- Customizable Solutions: Policies can be tailored to specific markets, industries, or customer portfolios, providing flexibility for your business needs.
By safeguarding your receivables, credit insurance enhances financial stability, supports growth, and can even help secure better financing terms with banks. It’s an essential safety net for businesses aiming to trade with confidence, both domestically and internationally.