Trade Credit Insurance

Why Use a Specialty Broker?

Most importantly, a broker works for you as the insured, and not for an insurance company. A trade credit insurance program represents an important investment for your business, and involves several disciplines within your company. By using a specialty trade credit insurance broker, companies can assure that they are receiving the maximum value for their time and investment. Additionally, most insurers encourage companies to work with an independent specialty broker and compensate them for doing so.

When selecting a broker, it is best to use a specialty broker who does only trade credit and political risk insurance and can represent the entire market. Specialty brokers are trained in these policies and their financing aspects, which are often times as important to the insured as the risk mitigation benefits of the policy.

Some of the important benefits a broker offers are:

  • Educates companies on the insurance market, including the carriers and their different philosophies, the product options and the optimal policy structures.
  • Solicits and evaluates quotations from multiple credit insurance providers.
  • Advocates and negotiates on the insured’s behalf with the various insurance providers.
  • Provides support to companies throughout the life cycle of the policy.
  • Assists companies with policy management at no added cost. Brokers are compensated by the insurance carriers.