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Trade Credit Insurance
It is possible to obtain trade credit insurance both within the UK and internationally, and trade credit insurers also assist their customers to manage risk by providing advice about credit risks and new markets to help their businesses grow. A business may purchase trade credit insurance on its entire portfolio of customers or on individual accounts.
Standard cover includes:
Property
Contents
Business Interruption
Public Liability
Employers Liability
INSURANCE
The following risks are generally covered by trade credit insurers:
Commercial risk: There is a risk that you will not be able to collect the outstanding invoices from your customers due to financial reasons such as declared insolvency or protracted default.
Political risk: An unpaid claim as a result of events beyond the control of the policyholder or customer, such as political events (wars, revolutions), natural disasters (tsunamis, earthquakes), or economic difficulties, such as currency shortages which mean cash cannot be transferred from one country to another.