Export credit insurance cover can be suitable whether exports represent all or part of your turnover, but will specifically cover the business you do internationally.
An International Export Credit Insurance Policy will enable you to confidently extend credit to existing overseas customers, as well as supporting you to break into new markets, giving you a major competitive advantage. Additional benefits specifically offered by an export policy include:
- valuable country research, helping you to identify suitable potential markets
- cost, time and administrative savings compared with more traditional methods of reassurance such as letters of credit from customer’s banks
- opportunity to secure international invoice finance against export accounts, specifically because the debts are insured
- protection against international turbulence beyond your control, including currency inconvertibility, currency transfer risks, unsustainable changes to currency conversion rates, bank failures, service nationalisations and trade sanctions.
As an added extra, credit insurance policies can come with political risk cover, which can cover you to trade in more exotic markets.
The majority of brokers and insurers will offer credit insurance as an ‘off-the-shelf’ policy, but at The Channel Partnership, we offer a bespoke policy for the same premium, making your credit insurance policy fit-for-purpose for your business. Call us today on 01275 817320.
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