Manufacturer of Fans
A company specialising in the manufacture of industrial fans was facing difficulty obtaining sufficient cover on certain customers with their existing insurer. They had insurance linked to their invoice finance facility, which typically means a standard policy with one insurer which may not be as comprehensive as required. On this occasion, the previous Trade Credit insurance policy did not cover the cost of materials and labour for the work in progress.
We were quickly able to approach insurers and obtain a quotation which was significantly less than the cost of the insurance included within their invoice finance facility. In addition, this covered all of their customers and included a ‘Work In Progress’ endorsement which covers labour before an invoice is issued.
Where a separate policy is arranged by your business, the invoice finance company's interest is noted on the policy and they will continue to provide funding for the insured customers. We can help you grow because we take time to understand your business, creating a bespoke policy which will help to avoid unforeseen cash flow issues.