London’s pre-eminence as a world finance and trade centre has resulted in the most sophisticated and competitive Trade Credit Insurance market.
All the Credit Insurance Underwriters listed in the following web pages are rated by agencies such as Moody’s and Standard & Poor’s at an investment grade level and provide a range of policies to protect the seller against most of the risks that cause payments to fail. Usually referred to as Trade Credit Insurance, Credit Insurance or Bad Debt Insurance, cover falls broadly within two risk categories:
- Commercial Risk Insurance: Covers non payment of debts due to insolvency (administrative receivership, bankruptcy, liquidation) or protracted default (failure to pay for goods or services provided in accordance with a contract).
- Political Risk Insurance: Included on policies with an export component to cover situations where the actions of government cause the payment failure. Examples include public buyer default, export restrictions, import restrictions, political events, foreign currency shortages or restrictions, in-convertibility, contract termination and contract frustration.
Most policies are written on a whole turnover basis covering all the debtors, however cover is available on a variety of different structures and Acumen will be happy to guide you through the options. We have highlighted areas which we feel differentiate each of the listed Credit Insurance Underwriters, but we have not attempted to list all the classes of risk they will cover. Click on the underwriter name to take you through to their specific page or contact us for a full appraisal of your requirements.