WHY IS BAD DEBT INSURANCE SO IMPORTANT

Collecting payments from customers should be simple and routine, especially if you have systems and agreements in place to streamline your invoicing process.

If you aren’t paid by your customers, it can have a major impact on your cash flow; ultimately putting your business at risk.

CREDIT INSURANCE IS A SIMPLE WAY OF ENSURING YOUR BUSINESS DOESN’T SUFFER WHEN YOUR CUSTOMERS LET YOU DOWN

We act as an insurance broker and will approach a number of insurers to obtain quotations.  You will benefit from:

  • Comparison of quotations from a number of insurers.  Many of which are only available from an insurance broker
  • Comparison of the cover available for your customers
  • Support and assistance for the lifetime of you policy with claims, queries and cover changes.
  • Impartial advice and recommendations for the policy which is right for your business

With cover from Jobson James, not only can we provide effective solutions for your business and protect against financial losses, but our policies also provide additional support on the creditworthiness of your customers and helping you build your business. Additionally, many insurers will assist with legal recovery of the amount that is owed to you.

To discuss your own requirements please contact Dean Smith, Divisional Director of Trade Credit and Surety on +44 (0) 121 452 8738 or alternatively by email at dean.smith@jobson-james.co.uk

WHO HAVE WE HELPED?

Driving growth for an ambitious Design & Engineering Business

Overview

When a relatively new design and engineering business wanted a fast and effective solution to its growth plans, it turned to Trade Credit Insurance for the answer.

The business, which had already achieved a £5 million turnover, wanted to trade with the confidence and take on new customers with whom they’d not traded before. Jobson James Trade Credit worked closely with a number of leading Credit Insurance underwriters to quickly source cover on those customers who would be key to growth – at an extremely competitive rate.

Integral to the success was Jobson James’s specialist knowledge, allowing them to speedily identify an underwriter with the experience and knowledge of the relevant sector. We also ensured they had the ability to write the necessary levels of cover and the capacity to deliver.

Increasingly, businesses are turning to Jobson James Trade Credit to support their growth plans by exploring the range of Credit Insurance options that are open to them.

We make sure we fundamentally understand your objectives before recommending the best way forward, be it a Whole Turnover Policy, a Single Debtor Policy, Selective Accounts Cover or a policy offering Non-Cancellable Credit Limits.

Our team of experts are happy to support your growth plans too.

Key Information
  • UK Policy only
  • £5m Turnover
  • Helped growth of business
  • Commercially minded underwriter
  • Happy to recommend

Major Steelwork contractor with £20m Turnover

Overview

This is a well-established Steelwork company primarily dealing with principal contractors.  The company is cash rich but wanted to safe guard their profits.  They had not previously insured for bad debts.

One of their contracts with a Main Contractor had a “paid when paid” clause.  The end customer was unknown to them and they wanted to make sure they could be paid.  Most of their work is often completed before payment is due. We approached all insurers and provided a solution which provided full protection against the ultimate customer becoming insolvent.

In addition they also had ambitious growth plans and wanted to be protected against customers with whom they did not have a track record.

As well as meeting the insurers underwriters Jobson James also provided training and support to all members of staff so they could gain a full understanding of the cover provided.

The information obtained regarding their key customers has also been very useful and gained an insight into the information held by insurers which could help to avoid problems in the future.

Key Information
  • £20m Turnover company
  • Covered work in progress including design
  • Protects profit and supports growth
  • Training and support provided to QSs and finance teams
  • Covers all customers