What Are The Benefits Of Receivables Insurance?
So…What Are The Benefits Of Receivables Insurance?Canadian companies that sell products, goods and/or services on credit face the risk of non-payment by their customers. Receivables Insurance can be a cost-effective way for transferring risk of non or slow payment. Many of the top Canadian insurance companies the commercial insurance brokerage ALIGNED Insurance works with offer receivables insurance products that protect organizations from financial losses resulting from non-payment
In addition, to peace of mind and increased comfort in working with new organizations or in new geographies there are many benefits of receivables insurance:
- Sales Growth: Increase sales by allowing larger credit limits and more favourable or competitive payment terms to existing customers.
- Open New Markets: Decrease or eliminate risks associated with selling to new customers in new geographies.
- Access to Financing: Secure better terms and borrowing capacity on your credit facilities from financial institutions by evidencing receivables insurance.
- Improve Profitability: Reduce bad debt expense that can hinder net income.
- Improved Business Valuation: Improve your balance sheet and organizations valuation through higher valuation of your account receivables assets.
- Increase Working Capital: Reduce bad debts reserves and increase cash to improve working capital.
- Credit Enhancement: Replace your buyer’s credit rating with the “A or A+” rating of a top rated Canadian insurance company.
What Types Of Receivables Insurance Are There?
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