Trade Credit Insurance
Trade credit insurance (credit insurance, debtor’s credit protection) is an insurance policy taken by a Business to cover losses arising from events that prevent their ‘business to business’ customer paying the full amount of debt.
Trade credit insurance protects the creditor from non-payment by the debtor, and may be a condition of granting credit.
It differs from other forms of insurance in that it is not purchased to protect the life or property of the policyholder, but rather to protect against risks related to the policyholders debtors’ ability or willingness to pay debts which they have contracted with an entity or business.
Ensure your debtors are insured against risks such as
- Insolvency
- Protracted payment default
- Political events
Losing money to bad debt has a more severe impact on businesses. Rather than just losing the money you were owed it can cause stress on cash flow and damage profitability.
With almost 20 years international experience in the Trade Credit Insurance industry, LML Insurance Group works to achieve the most cost effective trade credit solution for your business.
To apply for Trade Credit Insurance or to talk with one of our Brokers, please call 08 6383 2000.