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Our uncertain world
After a number of years of the most benign risk environment the global economy has become a totally different place. Business failures world-wide are recorded in their tens of thousands while the spectre of sovereign default hangs over businesses and consumers alike, undermining confidence and destabilising financial markets. High profile corporate failures have plagued many trade sectors, particularly automotive, construction, retail, leisure and, of course, banking. Even for those economies that are slowly emerging from recession the risk of company failure remains high.
The opportunity
For many businesses this is a challenging environment but this can also be a major opportunity. Prudent businesses do not want carefully prepared business plans undermined by the effects of unforeseen events such as bad debts, where suitable protection is available through trade credit insurance.
The protection
Businesses with credit protection through trade credit insurance are at a competitive advantage to those who chose to trade without cover. Companies with trade credit insurance have access to their own intelligence network of company and financial information. They also have protection in the event that customers go out of business without paying.
A tailored approach
We can provide a tailored solution to credit risks depending on your requirements. Typically, trade credit insurance will cover the risk of non-payment due to debtor insolvency or default, but can also be extended to cover a range of political risks, where relevant. We can arrange the cover that our clients want, which includes the following policy structures:-
- Whole turnover
- Excess of loss
- Principal accounts
- Specific account
- Captive solutions
We can provide options which range from pure risk transfer to a full service product, incorporating credit protection with credit management tools, such as a comprehensive credit limit and collections service.
Our clients
Our clients range from small to medium sized enterprises to multinationals, selling goods and providing services locally or overseas. We can provide solutions in most situations where goods are sold or services are provided on credit terms. Our clients include businesses operating in a wide variety of trade sectors from construction to media, importing, exporting, manufacturing and distribution.
No substitute for experience
At OAMPS we adopt the view that there is no substitute for experience. We have extensive knowledge of the market and provide an inclusive claims service - we do not outsource to any third parties. Our aim is to provide a consistent service, by offering the same knowledge and expertise in placing risks to negotiating claims. Our team of experienced professionals offers practical advice and assistance on day to day matters, regular market updates and reviews together with a comprehensive claims service.
Our approach
We have no preconceived ideas on what our clients should consider in terms of policy type or structure. Our aim is to listen to our clients and learn what their requirements are and only then make recommendations as to what would be a suitable policy. As independent specialist brokers we will provide sensible and impartial advice to support our clients.
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