For property and casualty brokers, receivables insurance provides an ongoing strategic service opportunity that is highly valued by CEOs, CFOs, Credit Managers and Enterprise Risk Managers. Accounts receivable is the biggest unidentified and uninsured exposure facing Canadian businesses today.
Unlike their counterparts in countries with a more mature trading tradition, many Canadian businesses believe they require receivables insurance only if they are trading with foreign buyers. While untrue, this perception helps explain why less than 10,000 companies among the country’s 1.1 million employer businesses currently employ receivables insurance products.
This lack of awareness and vastly under-served market represents an excellent new opportunity. Receivables insurance protects corporate balance sheets against unforeseen trade disruptions or political turmoil. If an adverse economic or political event occurs that affects a company’s ability to be paid for goods or services in transit or already provided, the receivables insurance policy pays out.
Become a Member
To become a member of the Receivables Insurance Association of Canada, click here.