Battling the twin threats of the global pandemic and Britain's exit from the EU brings challenges and increased risk for many businesses, not least when it comes to insolvencies.
The government's strategy for keeping businesses out of insolvency appears to have had a positive impact for many in the short-term. However, the months ahead remain uncertain and your customers’ ability to pay their suppliers could be impacted.
Underlying all this is the need to keep businesses operating – profitably if possible – and to retain jobs. When times are hard, offering extended credit trade terms is an attractive option to secure work and grow your business; however, this also brings increased risk to your liquidity and cashflow.
Your business is your livelihood, so what would happen if you deliver a significant job for a customer who was then unable to pay your invoice? The financial consequences could be devastating.
A simple solution is to protect single invoices.
We have worked with Nimbla to offer you credit insurance on a single invoice basis.
This flexible and affordable invoice insurance offers cover against unpaid invoices, so you can expand your business knowing that you're protected if a customer becomes insolvent. Prices start from abasis from as little as £5.60*.
How trade credit can help:
- Expand your business by offering credit terms to new buyers, knowing that you're protected if things don't go to plan.
- Have peace of mind when using invoice funding, knowing that your finance on an invoice is secure if it isn't paid.
- Protect your bottom line by insuring transactions with existing customers, knowing that you will get paid in uncertain times.
Invoice insurance is useful for small and medium-sized businesses where goods or services are supplied on trade credit terms.
Unlike traditional credit insurance, Nimbla doesn't require you to insure your entire turnover. Instead, Nimbla allows you to decide which individual invoices (up to £100,000) you want to insure. So during these challenging times, don't let the risk of client insolvency stop you from expanding your business.
It's quick and easy to get a quote: the no-obligation process is done online and takes two minutes.
An annual solution to protect your invoices.
If you are looking for an annual insurance to cover more than one invoice, we have arranged a solution with CoverCredit.
To get a no obligation quote in a few minutes and arrange cover, please visit https://marsh.onlinecreditpolicy.com/
In sourcing trade credit products Marsh Ltd only acts as an introducer to Nimbla Ltd, and any products sold are done so on a non advised basis, the regulated sale of this product is provided by Nimbla. If Marsh introduces its client to Nimbla and they decide to utilise the products on offer from Nimbla, Marsh will receive a commission for the introduction of this business.
Marsh Ltd is authorised and regulated by the FCA.
Nimbla Limited is an appointed representative of Ambant Underwriting Services Limited, which is authorised by the Financial Conduct Authority to carry out insurance distribution activities under firm reference 597301. Nimbla Limited is registered in England and Wales under company number 12406548, registered office at 133 Whitechapel High Street, London, England, E1 7QA.
This marketing communication is compiled for the benefit of clients and prospective clients of Marsh & McLennan (“MMC”). If insurance and/or risk management advice is provided, it will be provided by one or more of MMC’s regulated companies. Please follow this link www.marsh.com/uk/disclaimer.html for further regulatory details.
Cover Credit is arranged by Marsh but your insurance will be underwritten by Coface. Coface is authorised in France by the Autorité de Contrôle Prudentiel and subject to limited regulation by the Financial Conduct Authority.