You want to protect your company’s accounts receivable and you know you need trade credit insurance. You’ve found a broker who has helped you get quotes from several insurance companies. After examining the proposed or estimated premiums, deductibles, co-insurance, and other policy features, you would like to move forward. What happens now?
Insurance companies employ underwriters that will help them establish an appropriate strategy to assume the risk. This strategy will attempt to control potential loss to the insurance company while supporting your business goals. Underwriters make these decisions through the analysis of documents such as corporate financial statements, annual reports, and press reports, which are used to form an opinion on the underlying creditworthiness of the risk that will be assumed.
Be prepared to supply the following information:
The underwriting process can seem intimidating, but it doesn’t have to be. A good broker will be with you every step of the way.
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