Your customer’s failure to pay on their debts owed to you can have a massive impact on your bottom-line. These debts may arise as a result of your customer falling under hard financial times or simply failing to meet your agreed upon terms. Either way, non-payments weaken your business by lowering your investment capacity. A Trade Credit insurance policy will help you deal with the losses in the event of non-payment.
Our team at OnMarket Insurance Associates wants to help your business grow profitably by allowing you to extend credit to new customers and improve access to funding, at competitive rates. Trade Credit insurance is built for short-term account receivables, generally due back to you within 12 months. We tailor our insurance solutions to your company’s size, sector and specific needs.
Any questions?
What happens if a client cannot pay me?
In the event that your buyer cannot, or will not pay you, you will be insured up to the limit of your custom policy that we will build together. We can also work with you to find an agency to collect the debt for you should the need arise.
Why should I consider Trade Credit Liability coverage through OnMarket?
Our team will go beyond just writing a policy for you. We offer an enhanced custom relationship with comprehensive protection against the risk of financial ruin. We can offer you improved banking relationships and access to financing that gives you greater confidence in pursuing business opportunities. We also provide knowledgeable insight into the potential risks that your company may face. Additionally, during the lifetime of your policy with us, we will keep you informed of any changes that might impact the financial health of your buyers and their ability to pay you for goods or services you have delivered.
What is happening “behind the scenes” to protect me?
A network of risk officers will monitor the financial performance and well-being of your customers. Then, based on those risk assessments, each of your buyers is granted a specific credit limit up to which you can trade and be able to claim in the event that someone cannot pay.
