SMEs can cover bad debts with new insurance

Credit insurer Atradius and creditor protection agency Creditreform have taken the new bankruptcy filings as an opportunity to offer bad debt insurance to medium-sized businesses.

“The cooperation product combines the core competencies of credit insurance Atradius and the credit group Creditreform and offers customers special protection against bad debts in more than 150 countries. Companies can secure their payments with payment terms without much effort and make business decisions without fear of risks. The product is designed for small and medium-sized companies with an annual turnover of up to 10 million euros,” he said in a press release.

“As an international credit insurer, we are seeing more and more corporate breaches in Austria and around the world. “Especially for smaller companies with a manageable number of customers, bad debt insurance can be crucial to protect their business,” says Franz Maier, General Director of Atradius Austria. “With the help of the joint product with Creditreform, we offer protection to medium-sized companies against bad debts and encourage entrepreneurial activity in a volatile economic environment.”

Commercial applications

“With this collaboration, in addition to our services in the field of credit risk management which have been tried and tested for decades and are known in the market, we are closing a gap in the liquidity security of companies from Austria. “We want to support domestic SMEs in their crisis strength in times of multiple crises,” said Rainer Kubicki, managing partner of Creditreform in Austria.

“The cooperation between Atradius and Creditreform in Austria follows the cooperation between the two companies in Germany, which has existed since 2008 and has more than 1,000 common customers. With the product “Crefo WKV Plus”, which is specially designed for the Austrian market, Atradius and Creditreform make entrepreneurial activity and global trade easier for medium-sized companies in Austria, even in difficult times sure,” he continues. “With “Crefo WKV Plus”, commercial applications up to 50,000 euros are secured through Creditreform information. , Atradius will refund 90 percent of the net application, in case of late payments Creditreform will take over the collection on site.”