A meat wholesaler turning over approximately £56m per year, selling to customers in the UK and overseas including other wholesalers, traders and food processors.
Requirements & Solutions
This company’s main requirement was to find an underwriter who understands the risks facing the meat industry such as volatile commodity pricing, no retention of title clauses in terms of sales and potential shut downs due to infections and viruses. They also had a significant number of overseas buyers with large credit limit requirements that needed to be insured along with their UK customers.
By understanding the risks facing the industry and finding an underwriter who also appreciated these risks, Acumen Credit Insurance were able to negotiate lower minimum annual premiums in recognition of a potentially volatile turnover. We were also able to set up separate policies for UK and export sales with different insurers and different structures in order to tailor the policies to the differing debtor profiles.