As Towergate includes both insurance broking arms and specialist underwriting agencies, we are ideally qualified to advise you and arrange credit insurance that suits your business needs.
We appreciate that credit is vital to trade for small and medium sized businesses but increasingly difficult to secure in tough economic conditions. So, our approach is to give you access to a broad range of insurance products at a time when many of our competitors are withdrawing from supporting this aspect of the market.
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.
Causes of loss that credit insurance can protect you against include:
The specialists at Towergate can assist with many aspects of credit management and risk analysis.
Count on the expert team at Towergate to arrange Credit Insurance for your business with benefits that include: