You work hard all day long to ensure your business continuity and profitability.

Trade credit insurance pays you when your clients no longer have the ability to stand by their payment obligations. It offers protection against unexpected losses such as insolvency, bankruptcy, slow payment (non-payment) and political risk. Insuring your buyer portfolio is the most cost-effective way to protect yourself against non-payment.

By the same token, trade credit insurance also helps businesses to secure and protect outstanding sales and gain the confidence to enter new and untapped markets. It is also designed to secure receivables and enable companies to safely increase credit limits to existing clients and offer open credit terms.

Discover your coverage solutions

SINGLE BUYER

SINGLE BUYER
(specific risk)

Covers one single account/debtor for companies who have buyer concentration issues.

KEY ACCOUNT

KEY ACCOUNT

Covers your most important buyers or a segment of buyers above a certain threshold in order to protect against the possibility of catastrophic loss.

 

MEDIUM OR LONG-TERM COVERAGE

MEDIUM OR LONG-TERM COVERAGE

Protects contracts spread over a period of time longer than 12 months.

WHOLE TURNOVER

WHOLE TURNOVER
(full portfolio)

Covers your credit risk portfolio of buyers and will be structured accordingly. Premiums and rates are based on annual insured sales. This option is the most cost-effective way to protect the majority of your credit risk portfolio against the risk of non-payment, and is the most common of options.

 

TOP 10 REASONS WHY BUSINESSES BUY TRADE CREDIT INSURANCE
1
Protection – Secure your trade and get paid on invoices for which payment has been lost due to default.
2
Efficiency – Make the right business decisions, improve operating efficiency and maintain profitability.
3
Peace of Mind – Know that your outstanding sales are secured and protected.
4
Maneuver with Confidence – Gain the confidence to enter new and untapped markets.
5
Profitability – Improve and secure your profitability.
6
Funding and Banking – Secure your receivables to improve your banking relationship and gain access to additional capital.
7
Cash Flow Improvement – Complement your existing credit procedures and controls to lower your DSO (Days of Sales Outstanding).
8
Aggressive Growth – Gain the ability to safely increase sales to existing clients and offer open terms to new clients.
9
Competitive Edge – Offer open credit terms to gain an edge over competitors who may not offer similar terms.
10
Insights and information – Gain access to additional customer insights and information to improve business decisions.
THE BENEFITS
1
Catastrophic risk protection
2
Mitigate credit risk and allow for safe, aggressive growth
3
Reduce general losses
4
Broaden international footprint by penetrating new foreign markets
5
Gain a competitive edge by replacing Letters of Credit for open terms
6
Protection against political events and changes in regulations
7
Increase borrowing margins/rates with your lender
8
Include export receivables in borrowing base
9
Reduce reserves for doubtful accounts

Trade credit insurance can be a valuable tool for companies that hold Domestic Receivables, International Receivables, or a combination of both.

 

Though not all companies wish to insure their entire buyer portfolio, a full portfolio option is the most cost-effective way to protect yourself against non-payment. Depending on your company’s needs, there are various options available to you and your business.

 

BFL CANADA offers very competitive premium financing options to our clients. For companies operating on thin profit margins it is much more important to implement preventative measures to avoid being put into a reactive situation when faced with an unexpected loss.

Example: If your company operates on a 6% profit margin and you were to incur a $50,000 loss, what amount of additional sales would you need to break even on that loss? The answer is simple: more than $800,000 in additional sales.

The BFL CANADA advantage in a competitive market

INDEPENDENT AND CANADIAN OWNED
100%
OFFICES ACROSS CANADA
19
TOTAL EMPLOYEES
850+
YEARS OF SERVICE
30+

WHY DOING BUSINESS WITH BFL CANADA IS IN YOUR BEST INTEREST?

We are insurance brokers, we don’t work for an insurance company.
  • We negotiate on your behalf to get the best protection, rate and deductibles.
  • We work with you to develop tailor-made solutions adapted to your reality.
  • We deal with all major insurers that specialize in your industry.
  • We have offices across Canada to meet your local needs and partners in over 140 countries for your global ambitions.
  • We are solution seekers for companies of all sizes and every industry.

At BFL CANADA, we help our clients get peace of mind. Most insurance policies require various insurance companies to share the risk. As your insurance broker, we are able to canvass the insurance marketplace, approach financially sound insurers and always act in your best interest.

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