INSURANCE FOR BUSINESS

Trade Credit Insurance

Running a business can be stressful, but knowing that one of your largest assets is protected can only reduce that stress. A trade credit insurance policy will allow you to offer increased credit lines to your customers whilst still protected.

This allows you to expand your business and deal with new customers with whom you may not have established a credit history.

Ready to start your experience with us? Contact us

Why Choose Us?

Wide Access To The Market

Range of credit Insurers to get the best deal for you.

Credit Risk Analysis

Tools to help analyse the customers' risk profiles.

Reduced Bad Debts

Confidence to trade with new customers and grow your business.

Mitigate Against Bad Debts

Trade Credit Insurance exists to mitigate against the risk of bad debts to enable your business to trade with confidence on credit terms. After all, your trade debtors are likely to be among your most valuable assets and that makes them well worth protecting.

Mitigate Against Bad Debts

Trade Credit Insurance exists to mitigate against the risk of bad debts to enable your business to trade with confidence on credit terms. After all, your trade debtors are likely to be among your most valuable assets and that makes them well worth protecting.

Trade Credit Insurance Explained

Customer Health Check

The Insurer’s analyse the credit worthiness and financial stability of your customers.

Credit Limit Calculated

Each of your customers is given a credit limit and this is the maximum amount that the insurers will pay out if your customer defaults.

Trading Limit Updates

The Insurer keeps you informed of adjustments to limits as they may be raised or reduced when trading conditions change.

Cover for Insolvencies

If one of your customers become insolvent then that’s the point at which a claim would be triggered.

Cover for Defaults

If your customer is a late payer and is defaulting on the credit terms offered by you, typically having invoices outstanding that are 60 to 90 days past due date, then depending on the policy the insurer should be notified.

A certain number of days after the notification, they will consider a claim. This is usually if the debt isn’t under dispute. It can be possible to have dispute cover too and in these circumstances the insurer will pay out regardless and recover the funds once the dispute is resolved.

 

To discuss any aspect of your insurance requirements with us, please contact us and one of our dedicated Account Executives will be in touch to assist you further.

UK Government support measures are likely to have depressed corporate insolvencies in Q2 and Q3 2020, leading to a backlog. We expect corporate insolvencies could be much higher in the first half of 2021 compared with previous years. They could potentially be even higher than the average 60% increase experienced at the height of the global financial crisis in 2009. Automotive, retail and food service are expected to be the most impacted.’

Source Deloittes

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R.K. Henshall © 2021

R K Henshall & Co Ltd are Independent Intermediaries and are authorised and regulated by the Financial Conduct Authority. Directors: J.R. Henshall B.A.(Hons) ACII Cert CII (FS), A.J.Simpson ACII, T.R.Dredge DIP CII, A.Brown FCCA. Director/Company Secretary R.K. Henshall ACII. Registered No. 1285024

R K Henshall are very proud to support Lupus UK. Lupus UK is a charity very close to our hearts. Unfortunately, Nita Davies who had been a stalwart of our company from it’s very beginning lost her battle against this terrible illness in 2013. Lupus UK is the only National Charity which supports people with the immune system illness. (Registered charity nos. 1051610, SC039682) Click here to read more about Lupus UK.