This type of Business Insurance covers businesses from the potential risk of financial loss due to non-payment by debtors to whom they have credited money to. If a business has sold a product or service to a customer who has a certain amount of time to pay for the product or service, and they don’t do so, the business will be financially covered to ensure business and cash flow continues, while protecting the balance sheet against bad debt losses.
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Businesses of all shapes, sizes and sectors can use Credit Risk Insurance to ensure the financial safety of their daily operations. For example, a manufacturing business that has invested in materials, production, and delivery to supply customers could face massive losses if a client doesn’t pay. Credit Risk Insurance helps claim against such losses.
If you haven’t considered Credit Risk Insurance as part of your Business Insurance needs, compare quotes online with Hippo.co.za to find a policy best suited to your business.
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Still have questions about Credit Risk Insurance? Get answers to frequently asked questions about this vital protection for your business.
Credit Risk Insurance protects your business from financial losses if customers fail to pay for products or services on credit. It ensures your cash flow remains stable by covering bad debts and client insolvency, helping safeguard your balance sheet and ongoing operations.
Any business that sells goods or services on credit can benefit, especially those with large investments in materials or production—such as manufacturers. If a client doesn’t pay or becomes insolvent, Credit Risk Insurance covers the loss, keeping your business financially secure.
Credit insurance companies assess the creditworthiness of your buyers, provide advice on debt collection, recommend suitable credit limits, and assist in recovering outstanding debts. They also compensate you if a client fails to pay due to insolvency or other issues.
Compare Business Insurance and find a plan that meets your needs. Whether you want comprehensive cover or more focused shuttle business liability coverage, looking at multiple options online helps you make an informed decision.
