I myself follow international financial news closely and was also quick to realise that their major client was about to go bankrupt. Overnight, like a thunderclap. To give you an idea of the scale: this company had outstanding debt of 800 million. I immediately climbed on the phone; our client and the insurer were not yet aware of the bankruptcy. We immediately set to work getting claim forms and paperwork in order, and so we managed to save our client from a mega loss.
Moral of the story? You can have such a strong debtor on paper, it is never a guarantee! If you insure yourself for the damages you cannot bear yourself, you will be fine.
