Trade Credit Insurance - Intro/Interm - Searchlight Insurance Training

Trade Credit Insurance – Intro/Interm

This participative workshop is suitable for brokers and account managers who wish to have an understanding of trade credit insurance or for those in training who wish to develop their knowledge of trade credit.

It will provide delegates with an understanding of the background to trade credit insurance and the types of credit insurance currently available, the structure of policies, and the techniques for assessing the suitability of and negotiating terms

Level: Specialist

Duration: 1 day(s) CII CPD Hours: 6

Workshop Objectives

• Understand the way in which trade credit insurance has developed in the UK

• Outline what types of credit insurance contract are currently available in the London Market.

• Analyse terms used in a trade credit insurance policy and compare different types.

• Understand the structure of a trade credit policy in relation to the causes of loss appropriate to the risks.

• Identify which type of credit insurance is more likely to be appropriate for different sizes and types of firm seeking a policy.

• Understand how underwriters decide on appropriate terms based on the information provided.

• Understand the process between the proposal and the offer of terms.

• Identify useful techniques for negotiating polices and credit limits

Workshop Content

• Short introduction to the development and history of trade credit insurance.

• An overview of two broad classes of credit insurance: “traditional” and “excess of loss”.

• Insurable losses; exclusions and common conditions.

• The basic causes of trade credit loss and how they are defined and covered.

• How credit limits are set under each type of policy.

• Discretionary credit limit v endorsed limit.

• What underwriters are expecting to see and how they respond.

• How an underwriter considers a credit limit; important considerations.

• What can a Broker do to improve a client’s case?

• Two case studies on policy terms.