TRADE CREDIT · product or service to businesses on credit terms. For instance, if your profit...
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Suffering a bad debt can cause a business to fail, so Credit Insurance is well worth considering if you sell a product or service to businesses on credit terms. For instance, if your profit margin is 5% and you suffer a £25,000 bad debt, you will need to increase sales by £500,000 just to recoup the lost profit from that bad debt. The Towergate Group’s insurance facilities include a specialist Credit Insurance team, as such we are ideally placed to offer advice and solutions for this area of insurance. We appreciate that credit is vital to trade for any size of business but increasingly difficult to secure in tough economic conditions. Our team will be able to guide you through the process and assist with many aspects of credit management and risk analysis. Typical causes of loss that Credit Insurance can protect you against include: Customer Insolvency – Administration, receivership, bankruptcy and liquidation. Protracted Default – Client non-payment of your invoices after a specified period due to lack of funds and where the debt is not disputed. Political Risk – Losses arising from government intervention e.g. currency inconvertibility, cancellation of export or import licences, war and natural disaster. KEY FEATURES Count on the expert team at Towergate to arrange Credit Insurance for your business with benefits that include: Peace of mind – protection of debtor item, profit and cashflow Improved access to finance Protection for shareholders against loss profits Balance sheet protection Bad debt avoidance through improved market intelligence Assistance with risk assessment on customers and markets More effective sales targeting Enhanced credit control procedures Reduction in bad debt reserve TRADE CREDIT Towergate Insurance Brokers is a trading name of Towergate Underwriting Group Limited. Registered in England with company number 4043759. VAT Registration Number: 447284724. Registered address: 1 Minster Court, Mincing Lane, London EC3R 7AA. Authorised and regulated by the Financial Conduct Authority.. Contact your local Account Executive for more information
Transcript of TRADE CREDIT · product or service to businesses on credit terms. For instance, if your profit...
Suffering a bad debt can cause a business to fail, so Credit Insurance is well worth considering if you sell a product or service to businesses on credit terms. For instance, if your profit margin is 5% and you suffer a £25,000 bad debt, you will need to increase sales by £500,000 just to recoup the lost profit from that bad debt.
The Towergate Group’s insurance facilities include a specialist Credit Insurance team, as such we are ideally placed to offer advice and solutions for this area of insurance.
We appreciate that credit is vital to trade for any size of business but increasingly difficult to secure in tough economic conditions. Our team will be able to guide you through the process and assist with many aspects of credit management and risk analysis.
Typical causes of loss that Credit Insurance can protect you against include:
� Customer Insolvency – Administration, receivership, bankruptcy and liquidation.
� Protracted Default – Client non-payment of your invoices after a specified period due to lack of funds and where the debt is not disputed.
� Political Risk – Losses arising from government intervention e.g. currency inconvertibility, cancellation of export or import licences, war and natural disaster.
KEY FEATURES
Count on the expert team at Towergate to arrange Credit Insurance for your business with benefits that include:
� Peace of mind – protection of debtor item, profit and cashflow
� Improved access to finance
� Protection for shareholders against loss profits
� Balance sheet protection
� Bad debt avoidance through improved market intelligence
� Assistance with risk assessment on customers and markets
� More effective sales targeting
� Enhanced credit control procedures
� Reduction in bad debt reserve
TRADE CREDIT
Towergate Insurance Brokers is a trading name of Towergate Underwriting Group Limited. Registered in England with company number 4043759. VAT Registration Number: 447284724. Registered address: 1 Minster Court, Mincing Lane, London EC3R 7AA. Authorised and regulated by the Financial Conduct Authority..
Contact your local Account Executive for more information
