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About this Issue's Sponsor: Markel International
Credit is vital to the commercial world. Markel International’s trade credit cover promotes international trade by ensuring that buyers and sellers can do business with confidence. The trade credit division has a wealth of experience worldwide and helps to control counterparty payment default risks.
Buyers and sellers have long relied on credit to facilitate trade, but never more so than in today’s global marketplace where supply and demand are founded on increasingly complex credit arrangements. However, where credit is involved, there are also counterparty risks. What happens if a buyer defaults on payment before meeting its commitments through insolvency or for other reasons? Non payment can have a devastating effect on the balance sheet, which is why trade credit insurance is essential for business security and confidence.
Markel's trade credit team offers expert knowledge of commercial counterparty and country risks across a wide variety of trade sectors. The key benefits for clients include: security of non-cancellable credit and country limits; balance sheet and cash flow protection; improved terms for bank financing facilities; an effective alternative to letters of credit or other types of collateral; reduced need for bad debt reserves; increased potential for sales growth to new and existing customers because credit is based on a firm foundation; and risk transfer to satisfy capital adequacy requirements.
The team has extensive experience of providing global solutions for clients, but can also tailor policies for specific credit risks, markets and contingencies. Because of the complexity of trade credit risks which, amongst other things, span political, cultural, legal and social differences, it is important to choose an insurer that understands all the facets of international as well as domestic trade, and has a detailed understanding of insurance issues in a wide variety of contexts and geographies. Markel International’s trade credit division provides just such a service.
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