FAQ's

Trade Credit Insurance is the insuring of your debtors against protracted payment default, business rescue and liquidation.

No. The total insured outstanding book value is measured against the value of the annual premium paid. The average ratio can fall anywhere in the region of between 0.1% and 0.5% of annual insured outstanding book value depending on the risk involved.

Yes. Selective debtor insurance provides a solution to your business for that handful of debtors that you feel could pose a potential risk of payment default. It provides you with peace of mind in the unfortunate event of your debtor not paying their account.

The insurer does not have to liaise with your debtors if you do not want them to. The only time they would need to contact your debtor would be for financial information to be able to underwrite a limit. However if you would rather prefer to contact your debtor personally and let them forward the information directly to the insurer then that can also be arranged.

PrestGroup has their own online system on which you apply for cover. Once you are ready, we will provide training on the system and arrange access to the online system for you.