Credit Insurance - Getting it or Opting Out

At the moment a lot of people seem to be talking about credit insurance - the best way to get it, and possible ways to survive without it.

Business Credit Management ran an interesting article featuring research from CreditPal which showed that trade credit insurers are increasingly demanding additional disclosure from the customers and suppliers of a business - and that consequently the ability of SMEs to provide up-to-date management accounts is becoming more and more important.

The article quoted Philip King, the Chief Executive of the Institute of Credit Management, who stated that "Trade credit insurance plays a vital role for SMEs in particular and it is clear that insurers will be more inclined to write cover and maintain limits given greater financial disclosure".

And if you can't get credit insurance? Simon Howard, Credit & Risk Consultant at IDS Collections ,writing on the ICM Credit Community Group Site on LinkedIn, states that "There is a powerful solution available that is new to the marketplace and comes with the support and advice to make the transition away from insurance." Unfortunately, Mr. Howard doesn't describe the 'powerful solution' so I can't tell you anything about it, but if you are interested in receiving further information, or want to request a demonstation, you can contact him through IDS.