Policies can be tailored to your individual needs. Some companies prefer to insure only their major debtors, some would like to have all of their debtors covered, or just debtors above a certain credit limit. These factors will determine the premium rate applied by the insurance company.

Absolutely! The policy can be a combination of local and overseas debtors or you can have a policy specifically designed for export exposures only. The benefit of having an insurer who can advise you on the financial viability of your client is highly beneficial to your bottom line.

The insurance company will analyse the credit exposure on your customers and advise you on the limits they are comfortable with. This will also tell you how cautious you should be with certain clients, as the insurers will perform a credit check on your customer. 

The trigger for a claim is the confirmed insolvency of a customer and once this has been verified, a claim should be paid around 30 days after this date for local debtors. For overseas exposures, this can take a little longer and is determined by the circumstances of each claim. There is also always a self-insured retention of usually around 10% plus a policy excess.