Credit Insurance protects against the direct financial loss resulting from the insolvency or non-payment from a customer/buyer for commercial trading terms up to 360 days.
Standard policies cover the following events:
- Insolvency of a buyer;
- Protracted default (the non-payment of an account after a specified period of time).
Many policies combine coverage for credit and political risks.
Credit insurance protects balance sheet assets and propels revenue growth by mitigating the related customer non-payment risk. Used as a financial tool, a credit insurance policy may unlock additional financial flexibility on a bank line, and potentially support innovative working capital solutions.
Address your risk mitigation and financial engineering goals with a policy tailored to suit your needs.
Contact Millennium in one of our offices: Toronto, Cambridge, Ottawa, or Montreal.