Credit insurance

Credit insurance covers risks such as non-payment, bad debts, customer defaults, unforeseen events and helps protect cash flow while providing credit management support.

Safeguard your business against financial risks

In today’s unpredictable business environment, having the right protection is crucial.

Credit insurance serves as a safety net, shielding your company from non-payment, bad debts, and unforeseen events. Imagine you could predict potential risks – whether it’s non-paying customers, sudden weather disruptions, or other calamities.

With the right policy, you can do just that by protecting your cash flow and avoiding financial losses. This is especially important if you rely on trade customers to drive your business.

What is credit insurance?

Credit insurance protects businesses against financial risks related to trade credit. It ensures that if a customer fails to pay for goods or services, your company won’t bear the full burden.

Not only does it safeguard against payment defaults, but it also provides credit management support to help mitigate risks.

This added protection can prevent the need for insurance claims, saving your business from financial strain.

How credit insurance can help your business

Dealing with problem payers

Late payments can disrupt cash flow and create significant challenges for business owners. One in every ten invoices becomes delinquent. With credit insurance, you can reduce the impact of these late or missed payments. By transferring the risk to the insurer, you protect your business from the financial loss caused by non-paying customers.

Covering non-payment from unlikely risks

Credit insurance offers coverage against various risks, including political instability, natural disasters, and other unforeseen events. For businesses expanding into new markets, this added protection is invaluable. By insuring against these potential risks, you can focus on growth without worrying about unexpected financial setbacks.

Safeguarding new customer relationships

Bringing on new clients can be risky. Without sufficient time to assess their financial health, taking on new customers can result in missed payments. Cover gives you peace of mind, ensuring that you won’t lose revenue from bad debts while building your client base.

Improving credit terms and sales

With the confidence that comes from cover, you can offer more favourable credit terms to new customers. This flexibility can help boost sale by up to 20%. A stronger credit offering sets you apart from competitors and helps grow business.

Providing clarity on customer health

Policies often include monitoring services that track your customers’ financial health. These tools can provide early warning signs if a client is facing financial difficulties. By receiving alerts about potential risks, you can take proactive steps to mitigate the impact of non-payment.

Increasing access to funding

Cover makes your business more attractive to lenders. Banks and other funding organisations are more likely to offer better terms when your cash flow is protected. Insured receivables can even lead to an 80% increase in lending, improving your access to financial support.

Preventing catastrophic loss

Accounts receivable often represent over 40% of a business’s assets. However, without proper protection, this portion of your assets is vulnerable to non-payment. In extreme cases, the failure of a major customer to pay could put your entire business at risk. Credit insurance provides a safety net, preventing catastrophic revenue loss.

Why credit insurance is crucial for your business

Credit insurance is a valuable tool for maintaining financial stability and managing risks. By covering potential insurance claims from bad debts, natural disasters, and other unforeseen circumstances, your business remains protected. With the right credit insurance, you can focus on growth, knowing that your earnings and cash flow are secure.

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Why Clear?

Industry-recognised for being people-first, our team of specialists supports start-ups, SMEs, corporates, multinationals and individuals.

Trade specialists

We offer broad and bespoke sector specialist insurance solutions for peace of mind.

Over 40 years of experience

We have been serving the Irish business community since 1982, and we are committed to maintaining the highest standards of knowledge, ethical practice and advice.

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We're dedicated to providing exceptional customer service to respond proactively to the needs of our clients. We live by our tag line of ‘’do the right thing’’ for our clients, staff and insurers.