{"id":415,"date":"2021-10-15T07:19:20","date_gmt":"2021-10-15T07:19:20","guid":{"rendered":"https:\/\/www.xolv.nl\/?page_id=415"},"modified":"2026-03-03T15:24:40","modified_gmt":"2026-03-03T15:24:40","slug":"credit-insurance","status":"publish","type":"page","link":"https:\/\/www.xolv.nl\/en\/kredietverzekering\/","title":{"rendered":"Xolv credit insurance"},"content":{"rendered":"
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Protect your turnover from non-payment with credit insurance<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Credit insurance<\/h2>

Non-payment threatens your turnover, especially in uncertain times. As a business owner, you want to be able to rely on timely payments from customers. Credit insurance protects you when a customer suddenly fails to pay or when you do business in a risky country. In such cases, credit insurance offers a solution.<\/strong><\/p>

An independent credit insurance specialist like Xolv will help you take out the right cover, tailored to your customers and projects. On this page you can read how credit insurance works, what forms there are, what the costs are, and how Xolv personally supports you in collection, monitoring and claims handling.<\/strong><\/p>

What is credit insurance?<\/h2>

Credit insurance is insurance that protects your organisation against the risk of customers not paying their invoices. This could be due to bankruptcy, suspension of payments or long-term liquidity problems.<\/p>

In brief:<\/strong> With credit insurance, you will still get your money if your customer can no longer pay outstanding invoices. For example, because of liquidity problems, bankruptcy or suspension of payments. So you protect your business against non-payment, preventing your own payment problems or continuity problems.<\/p>

Besides paying out unpaid invoices, credit information and debt collection are also part of the package, making credit insurance more than worthwhile. Want to know which credit insurance is best for your situation?<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Get immediate, no-obligation advice on your credit insurance<\/span><\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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How does taking out credit insurance work?<\/span><\/h2>

Taking out and using credit insurance follows set steps, with the creditworthiness of your customers being a crucial factor.<\/p>

Step 1: Creditworthiness<\/h3>

A credit insurance application starts with understanding your customer's financial position. Every credit insurer, including the ones Xolv works with, has a database with up-to-date financial data of companies all over the world. This enables you to check online the creditworthiness check<\/a> of your (target) buyers and debtors. This is done by analysing hundreds of economic, political, commercial and financial indicators.<\/p>

Step 2: Credit limit<\/h3>

Once the insurer has a clear picture of your customer's financial position, they will set a credit limit based on your needs before the delivery begins. This is the amount for which the credit insurer considers it justified to deliver on account to the customer in question. In addition, this is the amount for which you are covered if this customer fails to pay its invoices.<\/p>

Step 3: Monitoring<\/h3>

Then you can start doing business. In doing so, it is important that you always state the general terms of delivery and payment terms and record all agreements in writing. While you do business, the credit insurer covers the customer risks by continuously monitoring your customer's financial position. If necessary, they will adjust the limit in consultation with you during the process.<\/p>

Step 4: Stop delivery in case of non-payment<\/h3>

Whatever measures you take, it can always happen that your customer cannot or will not pay after a delivery. Not even when you send a payment reminder and a reminder. If that is the case, we will find out the reason for non-payment for you. Usually, an amicable solution is preferred, in which we can of course help you. A first step may be to stop supplying products or services, even if there is an obligation to supply on your part.<\/p>

Step 5: Collection measures<\/h3>

If the above actions do not help, then collection measures <\/a>often necessary. The advantage of credit insurers is that they have their own collection agencies worldwide. This allows them - wherever and whenever - to put pressure on your buyers to make payment. Another big advantage is that credit insurers provide cover for multiple suppliers on the relevant buyer, which they reduce or withdraw upon collection. This puts additional pressure on the buyer to pay quickly.<\/p>

Step 6: Disbursement<\/h3>

If it turns out that your buyer really cannot pay or even goes bankrupt, the insurer will pay out the insured amount.
This ensures the continuity of your business.<\/p>

Check our articles on credit insurance here.<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Protect your turnover with the right cover. Our credit insurers advise you objectively and quickly.<\/p>

Request more information directly<\/span><\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Why take out credit insurance?<\/h2>

The benefits of credit insurance are not only in financial security, but also in better insight and control over your debtor risks. Below we list the main benefits:<\/span><\/p>