+353 (0) 1 242 0100
Insurance against unpaid invoices
+353 (0) 1 242 0100
Insurance against unpaid invoices
Credit insurance protects your business from the risks of non-payment of invoices. This means your invoices are covered. So if your customer can’t pay you, you’ll still get your money.
The best credit insurers get to know you and your business. They work in partnership with you, supporting you with up-to-date intelligence on markets and sectors. You can use this information to help explore new markets with confidence and offer competitive credit to customers. It also gives you a layer of security that banks tend to like when approached for finance.
We’re one of the world’s leading providers of credit insurance. Let us introduce ourselves, and learn more about Atradius, at www.atradius.ie
Credit insurance has allowed us to open up credit terms with foreign customers. In the past we’ve required a letter of credit or prepayment which has turned some customers away.
You can use credit insurance as a tax-deductible business service. It can be a requirement of your management board and you might find it a great support when seeking finance from banks. Credit insurance is suitable for most businesses, from SMEs to large multinationals. It can be used for both domestic and export trade.
Little to do
Your insurer will work with you and research your customers.
Get a credit limit for your customer from your insurer.
(A credit limit is the maximum amount of insurance cover available to you on your customer.)
Lots of work
Do your own research or pay for an agency
Employ a credit agency to check your customer.Choose to either:
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Focus on your work
One less thing to worry about
Just do what you do best.
Deliver your goods or services, send your invoice and get on with your business.
Cross your fingers
Leave it to chance and hope your customer pays.
Depending on what you did in Stage One you can:
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No problem
Your insurer will work with you to sort it out
Customer can’t or won't pay? Let your insurer know and they’ll settle up, either through debt recovery or a pay-out.
This could hurt
Any way you look at it, it's a loss.
Unpaid invoices? Depending on what you did in Stage 1 this means:
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You'll get paid
Claim back almost all outstanding debt.
There’s nothing to see here. Your business operates as usual. Return to Stage Two and continue as before.
No money and lots of work
Find a good lawyer. You'll need one.
To continue trading return to Stage 1 and start the process over.
Recovering your debt may be hardwork and could be costly. Also bear in mind factoring and Letters of Credit terms may be different as a result of the debt.
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How Premium is calculated
As with all insurance, there are variables which impact price.
Factors that affect your premium will be:
Turnover
The greater the amount that needs to be insured, the higher the premium will be.
Sector
Some sectors experience greater market volatility. Risk will be reflected in the premium, with sectors closely monitored for change.
Credit
The amount of time you allow your customer before they have to pay you is factored into the premium.
Countries
Whether through infrastructure, politics or conflict, some countries pose less trading risk than others do. Your premium allows for this.
Examples are for illustration only. Individual risk factors are identified, assessed and monitored for each policy.
If you have any questions or need advice regarding credit insurance for your business we can help. We provide credit insurance for businesses around the world ranging from start-ups and SMEs to large multinationals.
We are where you are. We’re present in more than 50 countries. We have a multinational, multilingual team of more than 3,650 people.
Talk to us. Our expert advisors will help you get the necessary cover, appropriate for your needs.
Tel: +353 (0) 1 242 0100
Instead of blindly going into a relationship with a new customer, we can leverage the information Atradius has in its database to approve credit on potential new customers before the first order ever ships. This gives us a level of security that we wouldn’t otherwise have
Trade with confidence and explore new markets, protected from risks.
Access free market intelligence to help you identify business opportunities.
Expert debt collection is included as part of your credit insurance policy.