Small Business can now insure against bad debt

Credit Insurance now avaiable for SMME's

Coface, the world's third largest credit insurer, has launched Venture Protector, a credit insurance product for small to medium-sized companies. 

The product applies to companies with a turnover of less than R40-million and is based on a fixed premium for the per policy period.

"The fixed premium allows clients to accurately budget for their credit insurance costs. The premiums are made via debit order which reduces administration and also facilitates the electronic payment of claims," says Coface executive director Michael Creighton.             

"Credit applications for clients are submitted online, streamlining the application process. As an online service, Venture Protector allows customers to manage policies themselves and gives set credit limits and '@' ratings for specific customers which are sourced on the web, says Mr Creighton.

The product covers both non payment and insolvency, and provides up to 85% cover. At no extra cost, customers have access to Coface's local and international network of debt collection agents and attorneys, and is therefore suited to small to medium size businesses trading both locally and internationally.

Venture Protector automatically includes exports to Botswana, Namibia, Swaziland and Lesotho, and many other export markets will be considered.