Bonds & Warranties
Business Combined Insurance
Construction Combined Insurance
Developers Combined Insurance
Technological Trades Insurance
Motor Trade Insurance
Statutory Plant Inspections
Contract Works Insurance
Commercial Vehicle Insurance
Special Type Plant Insurance
Business Car Insurance
Multi Vehicle Insurance
Office Combined Insurance
JCT 21.2.1. (Non Negligence)
Residential Lets Insurance
Specialist Trades Insurance
Personal Accident Insurance
Home & Personal Insurance
Commercial Let Insurance
Retail Combined Insurance
Transit & Cargo Insurance
Holiday Home Insurance
Self Build Combined Insurance
Special Event Insurance
15 - 32
Wallace Insurance Brokers
The Wallace Group, Whitehall Chambers, 43 New Row, Coleraine. Co Londonderry. UK. BT52 1AE.
Construction and Commercial Insurance Specialists
Credit Insurance policies to protect their clients against the potentially disastrous effects that can occur as a result of bad debts. Additionally Credit Insurance policies provide access to unique, continually updated, financial information on both new and existing customers. Credit Insurance helps to ensure that a business has a secure financial foundation enabling it to remain profitable and in a strong position to develop and grow with confidence. With a Credit Insurance policy in place you are armed with a powerful financial and economic information source enabling you to develop business with successful and secure partners, proving that a Credit Insurance policy is also a powerful marketing tool.
There are many types of Credit Insurance policy available that can be tailored to your own particular requirements. Whether you want to credit insure your entire customer base or just require a Credit Insurance policy to provide information and security on your export debts, we are ideally placed to negotiate a Credit Insurance policy that is right for you.
TYPES OF CREDIT INSURANCE:
WHOLE TURNOVER DOMESTIC CREDIT INSURANCE
This type of Credit Insurance policy is designed to cover all of your entire turnover with customers in the UK against insolvency and default. Policies are usually structured with a first loss of £500-£1,000 and many underwriters are now offering fixed premiums inclusive of credit limit charges as well as an integral collections facility.
WHOLE TURNOVER EXPORT CREDIT INSURANCE
As per the Whole Turnover Domestic Credit Insurance Policy, but designed to cover your entire export turnover.
COMBINED DOMESTIC & EXPORT CREDIT INSURANCE
As per the Whole Turnover Domestic Credit Insurance Policy, but designed to cover a combination of domestic and export sales
SPECIFIC ACCOUNT CREDIT INSURANCE
A policy designed to cover a single customer, which in many cases, is the largest account on the ledger. Most policies cover insolvency only and an “indemnity” is applied to the credit limit granted, usually 80-90%. This type of Credit Insurance policy is not designed to cover a customer where there is perceived to be a higher than average risk
KEY ACCOUNT CREDIT INSURANCE
This type of Credit Insurance policy covers a selection of between 2 and 20 of your customers, usually the largest accounts on the ledger. These policies usually cover both insolvency and protracted default and an excess would apply
CATASTROPHE CREDIT INSURANCE
This type of Credit Insurance policy is designed to suit companies with turnover in excess of £10 million with effective and sophisticated credit control procedures. On this basis, the insurer “underwrites” the credit control procedures and sets an Annual Aggregate Deductible, in excess of which, claims are payable. The deductible is usually set at a level of at least £25,000 and more commonly at £50,000-£100,000.
GLOBAL CREDIT INSURANCE
This type of Credit Insurance policy would suit a multinational company, with trading centres in several countries. A single policy would be structured to cover all the divisions or branches on either a Whole Turnover or Catastrophe basis, depending on the individual requirements.