There are seven or eight credit insurance companies in the United States. One is a government agency, three others will do the credit checking on your customers, and three or four others require the insured (your company) to obtain and provide credit information on your larger buyers.
Some are best suited for companies with high sales volumes and some cater to middle-market prospects. Several insurers employ a sales force and can only offer one policy to a prospect. Other companies will only deal with a broker. Which insurer is the best match for you?
All of the insurers will accept applications from "specialty" insurance brokers. The Credit Insurance Source is a "specialty" broker. The only insurance that we service is credit insurance and cargo insurance. We have more than 30 years' of credit insurance experience, and we've been in business since 2001. Our principal has been employed by the two largest credit insurers. We have clients in 10 states — some large, some small. Some of our clients insure export sales only, some are domestic sales only, and others include both domestic and foreign sales in their policies.
How Do We Custom Tailor?
Domestic Only, Export Only, or Combination Domestic and Export
Did you know that if you include domestic/export, your unit cost on export can be much less than export only? Do you want portfolio, key account, or single account coverage? Do you want it to include all divisions, subsidiaries, affiliates or exclude certain buyers? Do you have special circumstances, such as specially made goods or consignment?
Your application package is submitted to several insurance companies and you will receive multiple quotes. An Excel™ spreadsheet is produced with "Terms & Conditions" and "Approved Coverages." This form will highlight the differing offers and explain the offers in detail. We negotiate with the insurers to obtain the most favorable package for your company. At your option, we can assist in the decision making of which carrier is best for your situation.
At your request, we can assist in obtaining financial statements and information on buyers so coverage can be increased. If necessary, we can speak directly with an underwriter or arrange for a three party discussion with you. We discuss special circumstances that make your policy unique.
No Cost to You
We do all this at no cost to you. Our commission is paid by the insurance company and your premium is no higher when a specialty broker represents your company. In fact, most insurers have "downsized" customer service and therefore prefer brokers on policies in order to expertly deal with routine or