Credit and bad debt insurance
Credit insurance, also known as bad debt insurance, provides protection against unexpected bad debt losses that severely impair a company’s liquidity or can even lead to insolvency. It protects suppliers against the possibility that customers may not be able to pay for the goods delivered or services rendered.
What does a typical situation of a company look like?
In many industries, poor payment morale and long payment terms are part of everyday life. Bad debt losses due to the insolvency of the client put not only liquidity and earnings at risk, but often even the company’s own existence. Every third insolvency is the result of a bad debt loss.
What solutions does the SCHUNCK GROUP offer?
The SCHUNCK GROUP analyses the company’s situation and, on this basis, creates a solution that is tailored to the needs of the company. Of course, we only work with renowned insurers that are nationally and/or internationally recognised.
- Protection of all customers or only individual customers/countries
- The SCHUNCK CredLog as an exclusive policy for forwarding agencies and carriers
- 90 percent compensation in the event of insolvency and non-payment by customers (excluding insolvency!)
- Additional compensation in the event of an insolvency challenge
- Including legal protection for disputed claims and in the event of an insolvency challenge
The SCHUNCK GROUP operates its own Competence Center especially for credit insurance, factoring and guarantees, where banking and insurance experts continuously adapt insurance solutions to current developments.