Trade credit insurance can offer a number of benefits to clients and as such, insurance brokers in Canada should consider offering this type of coverage.
Mitigate risk: Trade credit insurance can help protect a business against the risk of non-payment by its customers. This can provide peace of mind and help companies manage their financial exposure.
Improve cash flow: By reducing the risk of non-payment, trade credit insurance can help to improve a company’s cash flow and financial stability.
Enhance competitiveness: By offering trade credit insurance, brokers can help their clients compete more effectively in their markets by offering more favorable payment terms and conditions.
Expand business opportunities: With the added protection of trade credit insurance, companies may feel more confident about entering into new markets or pursuing new business opportunities.
Diversify product offerings: Offering trade credit insurance can help brokers diversify their product offerings and provide added value to their clients.
In conclusion, trade credit insurance can provide valuable protection and support to businesses, and as such, it is an important product that insurance brokers in Canada should consider offering to their clients.
Mark Attley – President of the Receivables Insurance Association of Canada