Trade credit insurance is a multifaceted business tool for any company that sells goods or services on credit terms and is exposed to the risk of non-payment due to a buyer’s insolvency or failure to pay within the agreed terms and conditions. For exports, trade credit insurance also safeguards against political risks.
While protecting assets is a major benefit of trade credit insurance, it also serves a meaningful role in expanding sales and obtaining financing. Trade credit insurance provides a more affordable and less time-consuming option than letters of credit. Policies can be written on a single customer or multiple customers – covering domestic sales, foreign sales, or a combination of both.
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