They offer just one policy called Modula, which has different “building blocks.” These blocks can be integrated in various ways to form a customized solution for any business. They focus heavily on the development of proprietary credit and financial information. They monitor more than 85 million companies in their database and source insights from their presence in 52 countries and approximately $1 trillion in trade transactions worldwide. Atrium Insights is a powerful set of web-based tools which can also be accessed via Atradius Atrium. Gain industry leading insight that allows your team to easily identify risks, monitor your portfolio performance and find new business opportunities.
Global Expertise
This approach ensures you’re only paying for coverage that directly addresses your most pressing exposures. Trade Credit Insurance is a credit risk management solution that safeguards the development of your business, in particular by protecting you against losses due to non-payment of invoices. Exporters face diverse risks, from political instability and economic uncertainties to currency fluctuations. To remain competitive, many US exporters offer open account terms – but this means a higher risk of non-payment.
Dental, Group Life, and AD&D Claims
- These services work hand-in-hand with strong internal credit practices, reinforcing the importance of strategic risk management.
- This helps small businesses manage their cash flow by reducing the financial burden of interest payments during periods of non-payment.
- In the dynamic world of B2B transactions, managing financial risk is crucial to ensuring sustainable growth.
- Best trade insurance companies not only insure your accounts receivables but also offer your customers expert insights and due diligence.
- Track the status of controlled master programs, view policy details, download policy documents, access invoices, and more.
- Alliant Trade Credit will evaluate the specific needs and unique intricacies of your business and design the most comprehensive and cost-effective program tailored to best suit your needs.
It serves as a safeguard against the uncertainties lurking within your accounts receivable normal balance ledger. For these businesses, their accounts receivables are too valuable to lose and should be insured. Accounts receivable insurance can also help businesses expand into new markets and take on more risks than they might otherwise be willing to take, for example, due to geopolitical situations. While insurance protects against non-payment, factoring provides immediate capital at higher effective costs, sometimes reaching APRs over 40%. Choose factoring when you need cash now, insurance when you want protection later.
Property and Casualty
From the perspective of the insured party, a higher deductible can result in lower premium costs. However, this may also result in lower coverage limits, as the insured party is agreeing to pay a larger portion of any claims out of pocket. If your business generates over $10 million in annual sales, ARI’s customized approach often delivers better results than standard market options.
This regional analysis plays a key role in shaping the insurance policy. It covers accounts receivable so that you can protect your company against buyer insolvency, slow-pay, and bad debt. In addition, a trade credit insurance policy is a partnership Bookkeeping 101 with the insurance carrier that can provide their database information and knowledge to improve your trade decisions.
- If late payments could seriously affect your operations, you might find this insurance valuable.
- It offers financial stability and ensures that cash flow remains unaffected despite potential customer payment issues.
- Once you find the right policy, you can get coverage in less than 24 hours.
- However, this may also result in lower coverage limits, as the insured party is agreeing to pay a larger portion of any claims out of pocket.
- It’s affordable, with premiums as low as $1–$1.50 per $1,000 of sales for smaller businesses.
- With adequate coverage limits, businesses can have peace of mind, knowing that they have sufficient protection in the event of an accident or loss.
- This approach ensures you’re only paying for coverage that directly addresses your most pressing exposures.