Credit Insurance Direct Launches

London, July 2012

In this uncertain world OAMPS UK Group has launched Credit Insurance Direct ( an online product which provides protection against bad debts for small to medium sized businesses in the UK. There are many businesses with annual sales under £10 million. These businesses can now buy credit insurance online in as little as 20 minutes.

Credit Insurance Direct provides instant quotations online for SMEs based in the UK seeking protection against non-payment by customers in the UK and selected overseas countries.  All Credit Insurance Direct policies are underwritten by global credit insurer, Coface, in a comprehensive package incorporating protection and collections services.

Image Left-to-Right: Iain Maitland, Divisional Director, Trade Credit OAMPS UK and James Burgess, Head of National Accounts, Coface UK & Ireland shake hands over successful website launch.
Speaking on the launch of Credit Insurance Direct, David Barrett, ACIMA, Managing Director of OAMPS UK Group said, “The economy continues to dominate the headlines and the risk environment remains uncertain. We are therefore delighted to be providing support to smaller businesses through innovation, having developed an accessible online product that offers protection quickly and efficiently. At a time when businesses are exposed to so many risks we want to provide a solution that will support and secure our British businesses.”

Many small businesses have found it a challenge to access the market for suitable cover on their debtors. Credit Insurance Direct has been specifically designed to address this by providing cover for companies with annual sales of up to £10m. Developed through an interactive web system and supported by a dedicated telephone help desk all Credit Insurance Direct policies provide comprehensive cover for a fixed premium for the policy period.

The cover is available to any business selling to other businesses on credit terms in most trade sectors from construction to retail, textiles to recruitment, metals to food and drink, and many more.

Coface UK and Ireland Managing Director, Xavier Denecker added, “We were extremely keen to partner with OAMPS in the development of such a beneficial product to small businesses and to underwrite Credit Insurance Direct policies. The protection provided by these policies will be critical for many businesses for the foreseeable future.” 

Credit Insurance Direct policies are exclusive to OAMPS for UK companies, having been developed with Coface to provide a straightforward solution to businesses requiring protection for non-payment by their customers.

Credit Insurance Direct has been developed by OAMPS in response to a need to provide a simple, accessible product for businesses wanting to protect themselves against non-payment by their customers. The product has been designed for businesses with a turnover up to £10m. This product is only available online, offering a fast and efficient service with an all-inclusive premium. The premium quoted will include credit limit charges as well as any collection charges for overdue accounts that are covered under the policy.

OAMPS is a Lloyd’s broker and a leading provider of credit insurance solutions, comprising a team of experienced professionals who understand the requirements of businesses to protect themselves against the everyday risk of bad debts. It is part of Wesfarmers Group, one of Australia’s largest and most successful public companies. With a market capitalisation of over A$36billion and employing more than 200,000 people across seven highly diversified business units, Wesfarmers provides OAMPS with the strength and resources to pursue innovative and efficient risk solutions for our clients.

Credit Insurance Direct policies are underwritten by Coface, one of the world’s leading credit insurers. Coface has a direct presence in 66 countries, offers credit insurance in 95 countries and underwrites €370biliion of trade receivables. Coface’s 350 underwriters have access to credit information on over 55 million companies worldwide.

For more information contact David Druce: 0207 256 3616 or