credit insurance

One of our clients recently asked us to look into extending the credit limit on one of their largest customers. In this blog, we explain how we finally managed to convince a credit insurer to proceed with the extension.

No one has a crystal ball that can predict the future. Not even credit insurers. But they do try to get close to it. Insurance is a combination of probability and statistics. Based on historical data and mathematical calculation models, insurers try to estimate as accurately as possible the probability of a future adverse event (resulting in damage). Credit limits are determined on that basis. In this comprehensive article, we explain in detail how a credit limit is established.

The corona crisis has hit the economy hard. How are the biggest credit insurers looking at the economic situation? What about the credit limits soon? And what happens if reinsurance is not renewed by the State? We put it to Risk directors Edwin Kuhlman (Atradius), Arthur Schellekens (Coface) and Johan Geeroms (Euler Hermes), who outline the challenges and opportunities for 2021.

Besides the traditional credit insurance policy (the so-called turnover policy), many new products have been developed in recent years. Both existing and newly joined insurers are looking for opportunities to engage the still large group of uninsured companies. Or, on the contrary, for opportunities to serve existing policyholders even better. This development in the credit insurance market is leading to more and more innovative tailor-made products. What are these solutions? And what opportunities do they offer your organisation? We list four of them.

What should you still do or not do in 2020 to get maximum (financial) benefit from your credit insurance policy or financing? Seven end-of-year tips that are definitely worthwhile.

The Dutch state wants to continue guaranteeing credit insurers for six more months. In his parliamentary letter of 12 November 2020, State Secretary of Finance Hans Vijlbrief writes that he wants to extend the so-called supplier credit reinsurance until 30 June 2021. This is good news for insured suppliers, as it allows them to continue supplying their customers under cover.

We already saw the first signs of a slowdown in the global, and therefore the Dutch economy, last year. Usually, the staffing industry felt this immediately, as the number of staffing hours fell. Nevertheless, 2019 was a fine year for most staffing agencies. Until the coronavirus struck in early 2020. The labour market completely flipped. The first blows are visible in the staffing industry, which is considered the thermometer of the economy. It is therefore clear that the hardest blows are yet to come.

The holiday season is approaching. For many people, it will be a different holiday than planned. But what will be no different is that many companies run into liquidity problems precisely during these summer months. Now perhaps even worse than in recent years. Because although the government has taken good measures to support companies during the corona crisis, it remains to be seen whether these measures are sufficient. In this article, we explain where summer liquidity problems come from and, more importantly, how you can guard against them.

As corona measures continue to be relaxed, more and more companies are becoming operational again. This is of course mostly positive, but it also brings challenges. For instance, in terms of delivery and being supplied. In this article, we will tell you more about this challenge and what you can do about it.

Smaller entrepreneurs often have to wait (too) long for their money. Sometimes so long that they go bankrupt before they receive their money - to which they are really entitled. Fortunately, smaller entrepreneurs are getting the much-desired (and much-needed) support from the government.