Bad debt is an ever present threat, especially in the current economic climate. It’s always there with your existing customers and with new contracts the risk is even greater. But here’s the good news – you can protect your business affordably and effectively with credit insurance.
How does credit insurance work?
We work with a company called Euler Hermes who are the UK's leading credit insurer. Here’s how credit insurance safeguards your business against the failure of a customer to pay their trade credit debts:
- Euler Hermes work with you to establish credit limits on your customers.
- Should there be a serious delay in payment from your customer, simply let Euler Hermes know via their online service so they can help you collect the debt if appropriate.
- In the event of an insolvency occurring, Euler Hermes aim to pay your claim within 30 days.
Credit insurance is also a management tool using sophisticated market intelligence techniques to identify problems in advance, so you can grow your business with far greater confidence and security.
So - act now before bad debt strikes your business and receive up to 10 free credit limit indications.
You’ll be better placed to grow your business safely with the security of knowing how much credit you should extend to your customers if you had a credit insurance policy.
If disaster strikes over the ChRIStmas break you can be assured that we can arrange for Lorega to be there for you.
Can you afford to be without cover for Cyber RISks?
Many businesses use the worldwide web are exposed to Cyber RISks every day. Do you know a business which could be affected? Here are some claim examples:
- A computer engineer who had been employed to update the computer system of a sheet metal company was fired due to incompetence. When the company refused to pay him, he hacked into its computer system and deleted their files. It cost the company over £70,000 to rectify the damage.
- A dismissed IT department employee encrypted the entire database of his previous company and then demanded £1,000,000 in ransom. The company were preparing to call his bluff, when it found out that not only had he actually succeeded, but that it would cost at least £5,000,000 in computer and employee time to undo the damage.
- Kodak mispriced a top quality digital camera at £100 instead of £329. Not surprisingly, they received over 10,000 orders in a very short space of time. Following press coverage and the threat of legal action, Kodak honoured the contracts which cost them over £2,300,000
With access to annual premiums starting from £300 can your business afford to be without this cover ?
UKTI Export Insight Series
A message brought to you from Real Insurance Solutions: UKTI Export Insight Series
"The best way for UK to climb out of recession is to trade its way out. Real Insurance Solutions brings you details of a good opportunity from UKTI which is designed for businesses who have only just begun exporting, or who are thinking about exporting but unsure how or where to start.
This appears to be an opportunity for businesses that may previously have been reluctant to spend the money on larger trade missions."
A Document with further information can be downloaded from our website
Happy New Year. Now all the ChRIStmas pud and mince pies have gone, is Health and Safety not your cup of tea?
Before you delete this message consider the impact it may have on you, your business contacts or your customers. To assist them you may want to forward this information to them.
Effective 1st October 2012 The Health and Safety (Fees) Regulations 2012 put a duty on HSE to recover its costs for carrying out its regulatory functions from those found to be in material breach of health and safety law. Any serious or complicated breach could lead to costs running into the thousands of GBP pounds.
Real Insurance Solutions brings you an opinion from RSA Profin about HSE Fees for Intervention and the Investigations component of Directors & Officers (D&O) Liability coverage.
A document with further information can be downloaded from our website