Protect Your Business with Trade Credit Risk Insurance
In an era marked by rising insolvencies worldwide, the UK is feeling the impact. With business insolvencies projected to surge by 16% this year and remain elevated through 2025, it’s vital for companies to safeguard their financial health. Weak demand, increased costs, and inflation, along with the ripple effects of Brexit and the COVID-19 pandemic, have left many UK firms, especially SMEs, vulnerable to default.
The Need for Trade Credit Insurance As the landscape grows more challenging, Trade Credit Insurance stands out as a crucial strategy to mitigate risks associated with bad debt. With an estimated 15% of UK SMEs at risk of default over the next four years, ensuring your business is protected has never been more important.
Why Choose Trade Credit Insurance?
- Comprehensive Coverage Against Non-Payment
- Trade Credit Insurance safeguards your business against customer defaults, whether due to insolvency, refusal, or inability to pay. Should a customer fail to meet their financial obligations, your losses are indemnified, allowing your business to stay afloat.
- Enhanced Financial Resilience
- By covering losses from customer non-payment, Trade Credit Insurance empowers your business to build financial resilience. This security is essential for navigating an uncertain economic landscape.
- Informed Credit Decisions
- Utilize powerful insights from Trade Credit Insurance to inform your credit risk decisions. Knowing who to extend credit to and what limits to offer can significantly enhance your risk management strategy.
How JMM Can Assist Your Business
At JMM, we specialize in business credit insurance that protects your cash flow by insuring your trade receivables. Our approach allows you to trade both domestically and internationally without the looming risk of bad debt.
With our insurance partners, we analyze daily changes in corporate solvency, covering 98% of global GDP. This access to the latest credit risk data enables you to optimize your credit management effectively.
Proactive Risk Management is Essential
In these challenging times, proactive risk management is not just advisable; it’s essential. If you have any questions about how Trade Credit Insurance can benefit your business, or if you’re ready to discuss your options, get in touch with JMM today.
Conclusion Don’t leave your business exposed to the risks of insolvency. Invest in Trade Credit Insurance and secure your financial future.
