How Can a Business Protect Against Uncollectible Accounts?
One way that a business can protect against uncollectible accounts is to get credit risk insurance. This type of insurance protects your business from losses due to customer bankruptcy or slow payments. With the unfortunate reality of increased number of companies declaring bankruptcy as a result of our country’s current economic situation, credit risk insurance is becoming more and more important. Among the many benefits of credit risk insurance are the avoidance catastrophic bad debt losses and allowing you to increase sales without increasing risk of mispayments.
