Receivables Insurance insures suppliers against the risk of non-payment of goods or services by their domestic or international buyers. It's a valuable tool for business, brokers and bankers. Our members can answer your questions to help you determine if Receivables Insurance is right for your business.
It never hurts to ask! The Receivables Insurance Association of Canada (RIAC) has developed the only accredited suite of receivables insurance training in Canada to help brokers, bankers and business owners better understand Receivables Insurance. Also known as credit insurance or trade credit insurance, it is a valuable tool that helps businesses trade and grow securely.
It never hurts to ask! The Receivables Insurance Association of Canada (RIAC) has developed the only accredited suite of receivables insurance training in Canada to help brokers, bankers and business owners better understand Receivables Insurance. Also known as credit insurance or trade credit insurance, it is a valuable tool that helps businesses trade and grow securely.
Services
Receivables insurance protects your business from buyers - in Canada or abroad - that are unable to fulfill their invoice payment obligations. Such unforeseen trade disruptions can be caused by buyer insolvency, protracted default (failure to meet obligations on time due to inadequate cash flow), or political disruptions that lead to a loss on current receivables.
Accounts receivable is the biggest unidentified and uninsured exposure facing Canadian businesses today. Receivables insurance, also known as credit insurance or trade credit insurance, provides property and casualty brokers with an ongoing strategic service opportunity that is highly valued by CEOs, CFOs, shareholders, Credit Managers and Enterprise Risk Managers.
In much the same way mortgage insurance is designed to protect banks in the event of a foreclosure, receivables insurance enhances security on client working capital loans - in the event that a client's buyers - domestic or foreign - are unable to fulfill their invoice payment obligations.
Such unforeseen cash flow disruptions can be caused by a buyer's insolvency, protracted default (failure to meet obligations due to inadequate cash flow), or political disruptions that lead to a loss on foreign receivables.
Such unforeseen cash flow disruptions can be caused by a buyer's insolvency, protracted default (failure to meet obligations due to inadequate cash flow), or political disruptions that lead to a loss on foreign receivables.
The Receivables Insurance Association of Canada is engaged in initiatives to accelerate the success of the receivables insurance market in Canada and thereby improve the competitiveness and financial efficiency of Canadian businesses. RIAC members can share their expertise in videos and podcasts.
We distribute this content on our social channels, YouTube and via our websites to raise your profile, expand your audience and spread the word about receivables insurance.If you don't have a marketing department providing these services for you, your investment in a RIAC membership can provide this valuable benefit.
We distribute this content on our social channels, YouTube and via our websites to raise your profile, expand your audience and spread the word about receivables insurance.If you don't have a marketing department providing these services for you, your investment in a RIAC membership can provide this valuable benefit.
Receivables insurance is purchased by businesses selling to businesses (b-to-b) with payment terms generally not exceeding 180 days. It covers the policyholder (the seller) not being paid by their customer (the buyer). A policy is issued which describes how the coverage works. A "credit limit" for a buyer is then issued which actually triggers the coverage, according to the policy, for amounts owing by that buyer.
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