We are pleased to announce that we have been appointed by British Insurance Brokers’ Association (BIBA) as the scheme provider for trade credit insurance. All of us at CMR are very proud to have been chosen by BIBA. We work hard to maintain an excellent level of service and provide a well-managed credit insurance policy so as to reduce stress in our clients’ lives. The hard work has paid off in the form of recognition from the UK’s leading general insurance intermediary organisation.
Our Service Levels
We aim to provide the best possible service to all our clients. We are specialists of more than 27 years’ experience in providing trade credit insurance and tailoring policies to the needs of individual businesses.
As the Appointed Representative of Atradius, one of the world’s leading credit insurance providers, clients gain confidence from the support of an A3 rated Insurer whilst receiving the personable service levels from CMR. This results in your debtor book being fully protected with top management service included ensuring any claims that may arise being paid promptly. Our proposition is unique, personal and professional.
What are the Benefits?
Trade credit insurance is an insurance policy taken out to protect against the risk of non-payment by commercial customers. There are many benefits other than the obvious of a claim being paid due to non-payment. We also offer:
- Improved cash-flow
- Increased new business and repeated sales
- Better terms from suppliers
- Up-to-date credit information
- Reduced debt collection and legal costs
Trade credit insurance supported £314 billion of UK trade in 2016, that enabled businesses of all sizes, ranging from SMEs to multinational corporates across a wide range of trade sectors, to grow their businesses, capitalise on trade opportunities and protect their bottom line.
BIBA Head of Technical Services Mike Hallam said: “For members, this provides access to a class of insurance that can be invaluable to businesses. There is no question that there is a need for this type of insurance, according to the Association of British Insurers (ABI). in 2016 trade credit insurers paid out an average of £4 million per week in claims’ settlements. We look forward to working with CMR.”
If you are looking to protect your business from the risk of suffering a bad debt and destabilising your business, please do not hesitate to get in touch with our experts in trade credit insurance. We are always willing to have a no-obligation discussion with you to explain the importance of protecting one of your largest assets.