Debt Collection Services
You can choose an insurer which integrates the cost of a debt collection service into the price of your policy.
It is particularly important in export markets that you have local representation when it comes to collecting debts. The insurers will treat your debt as if it were their own. After all if no recoveries are made, they are likely to end up paying a claim.
Culture and Language
Understanding the culture, speaking the language, and being based in an office within the country of risk will be of great assistance when it comes to recovering a debt, or helping in resolving a dispute
Credit Insurance Policies
When all else fails, the credit insurance policy protects you from incurring a bad debt by insuring you for the insolvency or default of your buyer.
By using a credit insurance policy within your Credit Management Procedures you are taking every precaution to avoid having a bad debt. However, despite these measures, there will often be unforseeable bad debts that occur can cause a ‘domino-effect’ in bringing down other companies.