Credit risk insurance coverage protects businesses from non-payment of commercial debt. It makes sure invoices will be paid and allows companies to reliably manage the commercial and political risks of trade that are beyond their control.
Taking out a credit insurance policy remains the most efficient way to manage your credit risk. But it is not always easy to choose the right provider and find a reliable partner with the necessary experience to handle risky situations and support your commercial development in the long term.
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Brokers have the right relationships with a range of insurers that enable them to get the most suitable cover for each client. The following companies are some of the critical credit insurance companies you can work with:
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Euler Hermes
Euler Hermes is one of the world’s leading business credit insurers with a history spanning over a century and offices operating in over 50 countries. Its global reach is down to critical acquisitions of specialist business credit companies, such as Trade Indemnity in the UK. Today, it’s well known as an international expert in surety, debt collection, fraud insurance, and structured trade credit, and political risk.
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Having the correct information to make informed credit decisions means you can avoid or minimize losses. Euler Hermes’ careful analysis of this information allows companies to determine how much credit they can safely and reasonably extend to their customers.
Their strength lies in their cross-functional offer, which covers all the necessary guarantees of credit risk insurance. Moreover, it adapts to companies of all sizes across many different sectors of activity.
The benefits of choosing an Euler helmet for your credit insurance are
Their financial analysis capabilities to constantly evaluate the credit risk and solvency of your partners, with tools such as their customer platform MyEH;
Their legal expertise to carry out debt collection procedures in the best way possible, with in-depth knowledge of the playing field;
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Their financial strength guarantees your indemnification and risk coverage, as evidenced by their AA financial rating from Standard & Poor’s.
Moreover, thanks to their data collected in the field and our Economic Research Team, they are privileged observers and analyzers of current and future micro-and macro-economic trends.
With comprehensive analysis and intervention capacity, covering all needs in connection with trade credit risk, their credit insurance solutions allow you to implement a credit control policy that is both efficient and safe.
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Coface
Coface provides a comprehensive line of credit insurance to protect companies against potential non-payment by their customers, with cover provided in approximately 200 countries. Coface is driven by their belief in business as a force for good in the world. They have an international network dedicated to credit insurance and risk management, and they help customers with credit decisions to strengthen their ability to sell domestically and overseas.
Coface offers you unique knowledge of your customers, helps you make fair and accurate decisions for all your operations with more than 200 countries. They also work with all sizes of companies, from SME’s to multinationals.
Coface pays you an indemnity to soften the impact of the loss incurred. Once the payment arrears is ascertained, their experts step in to collect the receivable from your buyer. They then implement proven collection techniques to maximize the chances of successful collection.
The benefits of choosing Coface for your credit insurance are
Anticipate and resolve payment arrears from a customer;
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Benefit from the quality and strength of Coface’s prevention;
Receive personalized advice from a Coface expert present in your market;
Focus on growing your business.
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Nexus
A nexus is a London-based group founded in 2008, which has since grown into an international independent specialty managing general agent (MGA). Represented in nine key countries, Nexus offers perceptive business credit policies and guidance among their specialties.
They offer a complete portfolio of trade credit insurance products, including ground-up, excess loss, and top-up, with regular credit limits or non-cancellable limits.
They have local expertise and teams operating in the UK & Ireland, France, the Netherlands, Germany, and the USA.
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AIG
With more than 35 years of experience in trade credit, AIG offers unparalleled local underwriting and policy servicing capabilities. In addition, their non-cancelable limits coverage, credit management tools, and debt collection services help their clients serve customers in more than 70+ countries with confidence.
AIG is a global insurance company offering a range of products. AIG is one of the largest companies specializing in the UK business insurance market – covering thousands of mid-sized and smaller companies and many public sector organizations.
The benefits of purchasing trade credit insurance from AIG are
Their experienced local underwriting teams and policy servicing capabilities are supported by their operations, serving customers in over 160 countries and jurisdictions.
They provide clients with flexible program structures to allow a high level of autonomy when granting credit to customers.
They have over 30 years of experience underwriting trade credit insurance with over $1 billion in claims paid over that time.
They provide non-cancelable trade credit insurance where limits approved by them cannot be reduced or canceled.
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Clients can apply for credit limits, review coverage, and access macroeconomic data via their Global Limits online policy management system, any time and from anywhere.
They offer discounted debt collection services through a third-party agency.
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QBE
QBE, headquartered in Sydney, QBE is a general insurance and reinsurance company with offices in 27 countries and a focus on commercial specialty products and risk management solutions. Since establishing its North American presence in 1991, QBE has focused on diversification, superior product offerings, and unparalleled customer service. The breadth and depth of their Specialty and P&C coverages allow us to deliver tailored solutions on an integrated basis across multiple customer segments.
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Chubb
Trading goods and services with your customers come with risks, many of which can be mitigated with a trade credit insurance policy issued by Chubb. Chubb is the world’s largest publicly traded property and casualty insurance company.
Chubb’s underwriting team works together as a single unit with strategically located hubs in the USA (New York, Chicago & Los Angeles), Europe (London & Hamburg), Latin America (São Paulo & Buenos Aires), Asia (Tokyo & Singapore)
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Final thought
Risk is an ever-present part of any business. That’s why credit insurance companies make insuring your business. Whether it is coverage on your most significant, most trusted buyers or its hedging risk on a new market entrant, Credit insurance allows you to conduct your business with peace of mind.
In today’s volatile credit environment, selling on credit terms is becoming the norm. Yet with this comes customer insolvency, overdue accounts, and political risks. Credit insurance companies help your company mitigate these risks.
