ABTA Partner Credit & Business Finance Group LLP (CBF) and leading credit insurer Euler Hermes have launched an exclusive top up programme for ABTA Members wishing to increase the standard ‘claims cap’ included as part of ABTA membership.
The claims cap is the protection provided by the ABTA scheme of financial protection to each Member in relation to the credit risk on the failure of another Member. The claims cap for 2013/14 is a minimum of £140,000 (an increase of 27% from 1 July on the previous year) or three times the annual ABTA Subscription, whichever is the greater.
Through the new programme, Members will be able to top up their standard claims cap to one of a number of levels, individually brokered according to their portfolio retail agents and volumes. Premium costs will start at £4,000 for £280,000 of additional cover and protection can be purchased up to £1.4mn. There will also be options for covering ‘credit agents’.
This credit insurance programme aims to provide Members with another important tool in managing financial risk and protecting their bottom line.