Managing Risk
Sooner or later everyone needs an expert.
Credit insurance, with a proven carrier, can protect your business, guide you through the storms, and rescue you if and when the need arises.
Take, for instance, my recent attempt to hike to the top of Mount Rainier with my friends. Due to us having little or no prior experience, the first thing we did was hire a company that specializes in guiding up Mount Rainier, a second generation company with over 100 years experience.
Managing risks in your accounts receivable has its own unique challenges yet are very similar to my hiking trip.
All the perspiration, preparation, and expense cannot prepare you for the unexpected.
Your business may utilize the best practices by pulling credit reports, monitoring credit buyers for updates, belonging to credit groups sharing information, getting financials, etc…. But how many of your clients are out of the covenants of their bank loan? Who are your debtor’s biggest clients and how are they performing?
Look at your balance sheet. Most items are protected with insurance: your plant, property, equipment, inventory, life insurance on the business owner(s), etc. But do you have an accounts receivable insurance policy?
Think of the impact on your business if one or two of your major accounts had a cash crunch, or worse, couldn’t pay you. Your solid accounts are solid until suddenly they aren’t. You don’t want to be left stranded all alone on the summit in sub-zero weather in a windstorm.
Do what we did. Hire an expert. ARI (Accounts Receivable Insurance) Global, with over 150-year credit insurance experience, can help guide your business to the summit and, if necessary, throw you a lifeline when you need it by custom crafting a credit insurance policy for your unique wants and needs.