Why should I consider using credit insurance?
In the current economic climate businesses are struggling to pay invoices on time. Insolvency practitioners estimate that over 20% of corporate insolvencies are triggered by another company’s insolvency. Companies protect other assets such as their plant and property, but often do not protect their receivables which can amount to 40% of the company’s current assets.
Credit insurance can reduce the impact that a bad debt can have on profit, cash flow and trading confidence.