DTI figures advise of only 18% of companies failing due to financial reasons, this leaves
a surprising 82% of companies failing for "other" reasons and makes spotting potential bad
debts very difficult even for an experienced underwriter (even spotting financial problems
can be difficult in it's own right largely due to the age of filed accounts), hence the need
to seek protection - Credit insurance quickly replaces cash lost as a result of a bad-debt.
Each policy is tailored to clients needs to cover them against the insolvency or default of
either a UK or Export debt (or both) with the addition of enhancing cover to include
pre-credit risk or political risk for sensitive markets.
Most companies have on average 40% of their assets unprotected and take many risks. One
bad debt from a key buyer can take most companies into insolvency themselves.
Credit insurance is a bit like life insurance but for companies, protecting its future and
its workforce - consider this - if your company goes under because a buyer did not pay you
then this will mean that all the workforce it employs will also be out of a job, yet for
nothing or virtually nothing (Facts and Figures) this can be stopped.
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