Protecting Cashflow during COVID-19

4 /May

The true financial impact of Covid-19 is yet to be seen, Euler Hermes predicts global insolvencies will increase by 20% in 2020 due to the impact of Covid-19.This will lead to a ripple effect of delayed payments and insolvencies throughout the supply chain.

Trade credit insurance provides cover for delayed payments that are due to you. If your customers become insolvent or fall in to protracted default, you will be indemnified for the cost of goods and services you have delivered.

It safeguards your business from the domino-effect of supply chain collapse and ensures your cash-flow remains intact.

If you would like to discuss the options available to you then please visit the contact us page and a member of the team will be in touch.

Trade Credit Market

Please be aware that Trade Credit insurance providers will review each application on a case-by-case basis, and it is not always possible to provide cover for every supplier.

Insurers will consider the sector, turnover, countries operated in and financial strength when deciding whether to accept a risk and when setting the premium.

 

References:

[i] https://www.eulerhermes.com/en_global/economic-research/insights/covid-19-quarantined-economics.html

[ii] https://www.eulerhermes.co.uk/trade-credit-insurance.html#Trade%20Credit%20Insurance

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Directors: P.J. Davison, L.R. Elgie MA (Hons) ACII, S.D.E. Hughes, I. Miller ACII, S.S. Pinnell. Non Executive Director: G. Lumby MBE, FCIBS. Company Secretary: C. L. Nolan.

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