Why invest in Credit Risk Insurance?
The economic roller-coaster most companies experienced over the last decade has left many highly cautious of taking on bad debt. At the same time most have plans to grow and aspire to take on more and larger contracts. Credit Insurance enables companies to put in place the protection they need to pursue and win new business. Its purpose is to safeguard the business from contractual clients defaulting on payment or becoming insolvent.
For those facing sizeable contracts, our tailor-made Credit Insurance has meant our client companies:
- Can grant credit to match their competitors’ offerings
- Have more confidence to extend credit to companies they haven’t worked with before
- Have gained access to valuable construction market intelligence on UK companies, as well as overseas companies
- Now avoid putting the business at risk from a sizeable contract defaulting
- Have increased their turnover as credit insurance gave them the confidence to pursue new sizeable business contracts
- Have gained access to market intelligence through their credit insurer’s facilities to monitor customers’ credit rating performances
Construction Credit Insurance Specialists
Whilst we help a range of sectors, we have established a particular specialism in the Construction Industry. Despite sizeable construction contractors (such as Longcross, PC Harrington and GB Building Solutions) continuing to go into administration, we have been able to ensure our clients’ claims have been paid out in approximately 28 days. This has not only helped their cash flow but has ensured their businesses survive and continue to grow – even with turbulence in the market.
If you are keen to grow, but at the same time avoid bad-debt risks in new or existing contracts, call us about our tailor-made construction credit insurance. Call us on 01342 302 566 for a no-obligation chat or click below to contact us now.
Normally when there is a claim in sight, insurance companies tend to run a mile – not with Status Credit Insurance Brokers Ltd. They work until there are no more avenues and 90% of the time they find a way to recuperate the money outstanding through the scheme. I recommend their services to anyone.