Coronavirus help and support for our Towergate Insurance Brokers customers

Credit Insurance

Credit Insurance

As the Towergate Group 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:

  • 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.

The specialists at Towergate can assist with many aspects of credit management and risk analysis. 

 

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

Contact our Nationwide specialist broker in Milton Keynes

3rd Floor Exchange House, , 486 Midsummer Boulevard,, Milton Keynes, Buckinghamshire, MK9 2EA

miltonkeynes@towergate.co.uk

01908 258 388


Opening times

Monday – Friday 8:45am - 5pm






Coronavirus (Covid-19) – Update for Towergate customers

· Update as at 16 March 2020

With the COVID-19 Coronavirus situation evolving daily, we want to reassure our customers and partners
that we are continuing to follow government guidance, and have been working for some time to prepare for all potential outcomes
for our business and to support clients and customers through this sustained period of uncertainty.
Towergate Insurance Brokers is currently operating business as usual, and we are working behind the scenes on a range of plans
to continue serving clients without interruption and ensure we are prepared, should guidance and advice change quickly.
Read more