International Trade Credit Insurance
What Is International Trade Credit Insurance?
International trade credit insurance is a form of credit insurance which is specifically for your company’s international exports. It will protect you in case you don’t receive payment from your customers when you are exporting goods or services. International trade credit insurance is one of the best financial choices for your business, to allow you to expand into new markets with the confidence to know that you will be paid, hopefully by the customer, but failing that through a claim.
The Benefits Of International Trade Credit Insurance
- This insurance protects your company’s international exports. In the case your customers can’t pay you, international trade credit insurance will help your business to avoid potentially catastrophic loss.
- With international trade credit insurance, you can expand your customer base massively. This is because you can offer potential business partners more favourable credit terms that competitors without this cover may not be able to.
- If the customer can not, or will not pay your insurer will. It is often hard enough to recover money in the UK, can you imagine how hard it would be for an export customer, where would you even start?
- International trade credit insurance can improve your access to finance and on the back of an insured ledger, significantly improve your relations with your bank.
- Investing in international trade credit insurance can improve your confidence in your business and allow you to expand your business’ operations at a much quicker rate. When you are adequately insured, you can take educated business risks.
Does Every Business Need International Trade Credit Insurance?
International trade credit insurance is suitable for most businesses who trade internationally on a credit basis. Even if you have exported to a company for years and feel that you can trust them, the downfall of many “blue chip” companies over the last decade highlights the importance of taking precautions. Having this type of trade credit insurance will make sure that you are adequately covered in case the worst happens. It is one of the best ways to protect your company’s finances and allow you to expand your business with reduced risk.
Why Use A Broker For International Trade Credit insurance?
- Consulting with experts who are well versed in international trade credit insurance will allow you access to insider knowledge and specialist advice about which policy will be best for your company. They can help you find the best cover for your export trade in a saturated market.
- At PH Credit, we have over 30 years of trade credit experience, including international trade credit insurance. We can provide a service that is both highly personalised and cost efficient. See our Why Choose Us page for more information about what makes us different.
- Your international trade credit insurance policy will be handled directly by our team of experts. They will commit themselves to knowing everything about your specialised policy and the exact details of your company’s business dealings. Your insurance policy will be handled directly by us, so you won’t have to spend your precious time on the phone with endless customer service teams.
How Does International Trade Credit Insurance Affect Your Company?
For many businesses who trade internationally, their export credit makes up a large portion of the business, so if one of your creditors fails to pay, it could be catastrophic. This is why international trade credit insurance can benefit your business so significantly, as you can rest in the knowledge that if you are not paid what you owe, your insurance will cover all, if not part, of the loss. It is easy to be complacent when everything is going smoothly, but that is the best time to invest in international trade credit insurance to protect the future of your business.
Find Out More About International Trade Credit Insurance
If you think international trade credit insurance would be a good fit for your business, contact us today. One of our experts will be able to discuss the different options for your business and based on this, provide a quotation on a strictly no cost, no obligation basis.
International Trade Credit Insurance FAQ’s
International trade credit insurance is a type of credit insurance which is designed to protect your company’s international exports. In the case that your creditors don’t pay for what they owe, your insurance will pay out to help you to avoid significant loss.
There are many benefits to getting international trade credit insurance for your business. Insurance adds security and means you can be more secure in decision making around your cash flow. This is incredibly important when it comes to a business such as trading which can be unpredictable. Insurance can allow your company to expand with confidence, as potential customers may be more attracted to your credit terms. This type of insurance can also improve your relations with your bank, allowing you to take your business to new heights that otherwise wouldn’t have been possible. As a result of both the opportunities for expansion and the protection it provides, international trade credit insurance is one of the most important policies to consider for your business.
Our team of highly experienced and knowledgeable international trade credit insurance brokers are able to negotiate the best terms for your company, considering your specific aims and needs. If your company has many complex trade agreements, brokers are able to find the best cover for your business specifically in a saturated market, then will be with you every step of the way if you do need to make a claim. As a result of the nature of the international export market, claiming can be a complex process, which can be completely managed by our brokers.
Every business that exports should really consider investing in international trade credit insurance. It will help to mitigate the potential risks that come from the exporting business, so you can move forward with your business partnerships and expand your company with confidence.
Our team’s experience with international trade credit insurance is unrivalled. Here at PH Credit, we will be able to provide the expert and impartial advice that your business needs to find the very best cover that is ideally suited to you. We always focus on maintaining the ideal combination of professional and personable, so you know when you pick up the phone to us, you will be straight on with someone who knows your business through and through. We also have specialist broker status with Atradius, Allianz Trade, formerly Euler Hermes, Coface UK, Chubb, Tokio Marine HCC & QBE Europe, with experience working with clients in a wide range of sectors.