Trevor Price, Managing Director at CBF, explains the cover available through one of our newest specialist Credit Insurance products, Cover Lease.
Whether a lessee becomes insolvent, cannot pay because of a natural disaster or political risk, or simply doesn’t pay an invoice when it is due, their leasing company is out of pocket. Unless, of course, they have put measures in place to mitigate their exposure.
Cover Lease is a new product from leading underwriter Euler Hermes, which insures medium-term leasing agreements (up to five years) on moveable assets for companies located in the UK and Ireland. This fixed cover is tailor-made to protect each individual financial or operating lease, so that if the lessee defaults, the financial impact on the lessor’s organisation is minimised.
With profit protected, and greater certainty in the revenue stream generated by each contract, leasing companies can grow their businesses with confidence – whether they are moving into new markets or territories, taking on new customers, or increasing business conducted with existing lessees to beyond maximum internal exposure levels.
To find out more about this flexible specialist product, please call Laura Prime on 01279 722555.