Credit and bad debt insurance
Credit insurance, also referred to as bad debt or default insurance, protects the insured against an unexpected debt default, which can strongly impair a company’s liquidity or even lead to insolvency. It insured suppliers against their customers being unable to pay for goods delivered or services rendered.
What do typical situations of a company look like?
In many business sectors poor payment morals and protracted payment deadlines are part of everyday life. Default on debts due to insolvency of the client endangers not only liquidity and income flow but frequently even jeopardises the creditor’s own existence. Every third insolvency is the result of a bad debt default.
What solutions does the SCHUNCK GROUP offer?
The SCHUNCK GROUP analyses the company’s situation and, on that basis, produces a solution tailored to the company’s needs. Naturally enough, we only collaborate with well-known insurers that are recognised nationally and/or internationally.
- Hedging of all clients or only specific customers or countries
- The SCHUNCK CredLog as an exclusive policy for haulers and freight forwarders
- 90 per cent compensation in case of insolvency or default (without insolvency!) of customers
- Additional compensation in case of an insolvency challenge
- Inclusive legal aid for contested claims and, in case of a contested insolvency
The SCHUNCK GROUP operates, especially on the subjects of credit insurance, factoring and performance bonds, its own competence centre in which banking and insurance experts adapt insurance solutions on an ongoing basis to current Trends.