Trade Credit Insurance
Contact Baynyi Ausure for your Trade Credit Insurance needs.
What is trade credit insurance?
If you trade or sell goods on a credit basis, you’re at risk of bad debt or non-payment by customers. This can disrupt your cashflow and leave you out of pocket.
Trade credit insurance is important for protecting your income and business assets against potential customer failure. With the right cover, you can grow your business confidently, knowing you can be protected if things go wrong.
Who should consider it?
All registered businesses that sell goods and services on credit terms, such as 30 days to pay, should consider trade credit insurance. This includes businesses that trade domestically and internationally.
Some trade credit insurance policies also offer the bonus of working with designated collection agencies to help you recover your debts – taking the pressure off this difficult and time-consuming process.
What can it cover?
Depending on your policy, trade credit insurance can cover:
| Type of Cover | Potential Benefits |
|---|---|
|
Comprehensive cover |
Protecting your entire credit portfolio, including domestic and export customers. |
|
Excess of loss |
Suitable for businesses with strong internal credit management processes who want cover for exceptional loss across their entire portfolio. |
|
Key account |
Covers Key Account for clients requiring protection on their largest buyers; optional non-cancellable credit limits and deductibles. |
|
Single buyer |
Covers single buyer coverage for quality credit risks. |
What usually isn't covered?
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:
- Failure to fulfil any terms and conditions of the contract or to comply with any provisions of the law. This includes failure to invoice within the time specified in the policy schedule (generally 30 days).
- Failure to obtain any import or export license necessary for the performance of the contract.
- Any loss related to interest charges, penalties, legal costs, banking costs and currency exchange rate changes.
INDUSTRIES WE SERVE
- Indigenous Corporations and Enterprises
- Local and State Government
- Construction & Infrastructure
- Health, Community, and Disability Services
- Education & Childcare
- Licensed Clubs & Sporting Organisations
- Agriculture & Land Councils
- Not-for-Profit and Social Enterprises
- Transport and Logistics
- Mining and Resources
- Manufacturing
- Professional Services
- Hospitality
- Real Estate and Property Development
- And many more
Speak to us about your Trade Credit Insurance Needs:
Contact Baynyi Ausure
Our Insurer Partners
Let us do all the hard work for you! We compare policies from multiple insurers to ensure you have the right policy, the right price and most importantly – the right coverage.
Let Baynyi Ausure help you with your Trade Credit Insurance needs.
Baynyi Ausure specialises in delivering tailored insurance and risk solutions for indigenous and non-indigenous businesses across a diverse range of sectors. . We are part of Australasia’s largest general insurance broker network, the Steadfast Group. We leverage Steadfast’s scale to ensure our clients have access to a wide range of insurance companies, a broad range of products, exclusive policy options, and of course, competitive pricing. And when the time comes and you need to make a claim, you will have the backing of Steadfast behind you.
