Tel: 01424 217698 or 07971 996658 Fax: 0845 127 4385
E-mail: Rycroft Associates
| Tel: 01424 217698 or 07971 996658 Fax: 0845 127 4385 E-mail: Rycroft Associates | Due Care and Prudence- Credit insurance is very much an intangible product in that it is not about the insurer picking the tab up at the end of the day but is there to help you trade upwards with confidence that should a customer go belly up on you that your cash flow will be protected and it is there to help you try and avoid any bad debts - some people look at credit insurance as an investment and that they should get some money out of it to justify the premiums, but what of fire insurance, do you want a fire every year to justify the premiums? So the insurer enlists "Due Care and Prudence" and would expect you to take every care to avoid a bad debt as though you were not insured, if you take this stance, then you could reasonable expect the insurer to pay out should you hit a problem - the relationship between you and the insurer is one of trust. |