We're out! - Credit Insurance can help take the uncertainty out of Brexit!
With news that the UK has decided we should leave the EU and David Cameron announcing his resignation, the country is full of uncertainty. The pound has hit its lowest point since 1985, a lot of banks' share prices have taken a hit and all in all a lot of people and companies might not know what the future holds.
What could happen?
If truth be told no one knows for sure what will happen but how does that make a difference to before. Many are in shock and making knee jerk reactions due to the uncertainty. Some are suggesting we may export more as the pound has weakened meaning foreign companies will get more for their money. This in turn will result in the cost of imports increasing as we will get less for our money. Until all the trade agreements are sorted over the next few years it will be difficult to predict where we will be. Many economists are predicting an economic down turn meaning protecting your debtor book is more important than ever. Trade credit insurance is the way to go!
What can you do? - Credit Insurance is vital
At CMR Insurance Services, we provide a managed credit insurance policy to help protect from the risk of not being paid by your clients. Whether you are dealing with domestic or foreign clients, we can help protect your debtor book with a domestic credit insurance policy or an export credit insurance policy or a combination of the two.
Sometime referred to as bad debt insurance, credit insurance policies pay out claims if debtors cannot pay invoices owed to you and bearing in mind that your trade debtors probably are your largest single asset, it makes sense to insure that asset in the same way you do your buildings, office contents or stocks. Credit insurance claims are typically higher than the cost of a credit insurance policy so credit insurance can often pay for itself after one bad debt.
If you would value a phone call as to how credit insurance can protect your company's profits and future from one of our experienced team click here or if you would like a credit insurance quick quote click here. Credit insurance is here to give you the confidence to continue to trade during these uncertain times.