CBD Insurance Services is a professional and trusted insurance provider who specialises in credit insurance.
We are the number one choice when it comes to providing all forms of business insurance for your company.
Since 1983 have been working with all types of SME’s and professionals to ensure they have the necessary protection against any business risks that may face.
Trade Credit Insurance
One of the greatest risks that businesses face is in offering credit to their buyers especially if the buyer then reneges on the sales agreement and defaults on their payment.
Whether credit is offered on a short-term basis (30 days or less) or a longer term, this risk can be a major setback for any business and not only affects profitability but the overall cost of operation.
With CBD Credit Insurance, you can trade with confidence and continue exploring new products or markets, knowing that your business is protected from credit risk.
CBD Insurance Services provide you with tailored insurance solutions to help protect businesses from losses that may arise with very competitive premiums.
Why Choose Us?
- We understand that bad debt can cause a wide range of effects on a business and can put pressure on cash flow and affect your long term profitability
- Our mission is to create a SYSTEM for you, which is an acronym for Save Yourself Stress, Time, Energy and Money
- As your trusted insurance partner, we’re committed to delivering excellent service, sound advice, and comprehensive coverage that won’t let you down when it’s time to claim
- We are professional and trusted consultants specialising in a broad range of insurance solutions
- We are aligned with some of Australias highest regarded experts in their field, we work with these experts every day
- We understand that every business is different, and we tailor our services to best suit each of our client’s unique requirements
- We insure people, not just business risks and will make sure that you don’t lose the benefits of all your hard work because of a single mistake, accident or illness.
- Our agents take the time to explain what options are available to you to make sure you select the insurance product best suited to your circumstances
- We have over 35 years experience have worked alongside some big names such as Garry Harvey, Amanda Keller and International Filmmakers Scott and Kerry Hicks
- We believe in transparency and you will know upfront what you will be paying as insurance premiums.
Credit Insurance Services
For business owners, offering products to customers can leave you in quite a vulnerable position especially if one or more of them fail to pay.
While you might be able to handle some of the minor bad debts your business may face with your daily activities, facing large, unexpected bad losses could overwhelm your business.
Credit insurance protects your business in the event of a non-payment of commercial debt.
With it, you can be sure that all your business invoices will be paid, so that your business can reliably manage the commercial and political risks of trade.
Credit insurance can also be tailored to cover specific needs of a business and can provide coverage for risks such as binding contracts and work in progress.
How Credit Insurance Works
No matter how careful you are, clients or customers sometimes fail to pay.
Unless your business demands payment upfront or is covered by credit insurance, this makes you vulnerable to bad debt, also referred to as credit risk.
Credit insurance is specially designed to protect your business cash flow.
It ideally covers trade with your clients and will make sure that you still get paid even if their business goes under or fails to pay you for various reasons.
Credit insurance works by protecting you against the buyer failing to pay, meaning that every invoice issued to any of your customers is covered.
This kind of insurance is used by businesses of all kinds to protect them from credit risk on both domestic and international trade.
Credit insurance can also help businesses secure finance and allow for exploring new markets with confidence.
The main benefit of this is that you can also offer favourable credit terms to their customers.
The cost and amount of credit insurance needed will depend on your business needs, the size of your credit portfolio, location of your market, and the level of risk associated with your customers.
Moreover, at any time during the credit insurance policy, you can request additional coverage as needed.
You can also request a credit limit for a new customer that you would like to do business with.
At CBD Insurance Services, we are committed to monitoring the creditworthiness of your clients proactively.
We do this by collecting information about your customers from a number of reliable sources such as receipt of financial statements, customer’s public records, visits to the customer, past due reports, and information supplied by policyholders that sell to the customer.
Who Credit Insurance Is For
Any business that sells goods and/or services on credit to its customers (or other businesses) can benefit from Credit Insurance.
This is because businesses operating on credit terms are susceptible to unpaid accounts and bad debts that can quickly add up to substantial amounts that threaten the long-term prospects of the business.
Since changing your business model overnight is virtually impossible, credit insurance provides an easy way to mitigate these financial risks and protect your profits and cash flow.
Benefits of Trade Credit Insurance
- Cash flow relief: The protection against being held hostage by unpaid debt lets your business maintain its cash flow at all times.
- Increased sales: Since you don’t have to worry about unpaid accounts, your business can offer customers better credit terms, gain a competitive advantage, and build stronger relationships.
- Protection from Insolvency: In case a customer becomes insolvent and still has accounts unpaid, you will be protected against these possible losses.
- Trade with Confidence: This type of insurance will help to support proper credit management and lets your business trade with confidence, try out new strategies, venture into new markets, and remain competitive.
- Better access to Financing: With trade insurance, banks will be more likely to lend your business money simply due to the reduced risks.
- Assistance with managing credit risk: We provide you with an extensive database and knowledge on both international and local businesses to help with the management of clients’ credit.
At CBD insurance Services, we understand that the world of business is complex, with frustrating jargon and legal minefields that requires expert knowledge to understand.
With our Credit Insurance Policies, we aim to extend this expertise to businesses and look out for their best interests.
We can assist you in evaluating your risks and choosing the right accounts receivables coverage that will be most suitable to your business in the event of a credit insurance claim.
For an obligation-free, competitive quote, professional insurance advice or more information on how we can help you, please contact one of our expert consultants today on (08) 8357 1422 or send a message through our website:
