Credit Insurance

Protect Your Payments

Designed to protect your business against the financial consequences of non-payment.

Every business that extends credit to its clients carries a receivables exposure. A single significant bad debt can have a disproportionate impact on your business, affecting your ability to meet your own financial obligations, service your suppliers, and continue investing in growth.

Credit Insurance protects your business against the risk of non-payment by your customers. It gives your business the confidence to extend credit, grow your customer base, and expand into new markets, knowing that your receivables are protected and your cash flow is secure.

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Reliable protection for your trade receivables.

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Corporate Insurance

Key Benefits

FAQ

What does Corporate Credit Insurance cover?

Corporate Credit Insurance covers your business against financial losses arising from the non-payment by your customers, whether due to insolvency, bankruptcy, or protracted default. At GSIB, we ensure your policy is structured to reflect the specific credit risks your business faces.

Does Credit Insurance cover all of my customers?

This depends on the type of policy arranged. A Whole Turnover policy covers your entire customer portfolio, while a Key Account policy provides targeted cover for your most significant customer relationships. Individual customer credit limits are assessed and approved by the insurer based on the buyer’s financial health and creditworthiness.

What is not covered under a Credit Insurance policy?

Standard exclusions typically include disputes between the policyholder and the buyer, where non-payment arises from a contractual disagreement rather than insolvency or default. It also excludes the company’s pre-existing overdue debts, sales made outside the terms and conditions of the policy, and losses arising from the policyholder’s own failure to fulfil its contractual obligations.

Is Credit Insurance only relevant for large businesses?

Not at all. Credit Insurance is equally relevant for SMEs and growing businesses — where the impact of a single significant bad debt can be proportionally far greater than for a large corporation. For businesses that rely on a small number of large customers, or that are expanding into new markets, credit insurance provides an essential financial safety net.

How do I make a claim under my Credit Insurance policy?

Notify GSIB as soon as a customer fails to pay within the agreed credit terms. Timely notification is critical in a credit insurance claim. Provide all relevant documentation including invoices, delivery records, and correspondence with the buyer. Do not write off the debt or enter into any settlement arrangement with the buyer before consulting your insurer.

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Protect Your Payments

Designed to protect your business against the financial consequences of non-payment.