64G Ltd works as an approved person of W Denis Credit Risks, a respected insurance broker, and maintains access to policies through Nexus CIFS Ltd, backed by a Lloyds syndicate, and Atradius. Through W Denis, 6 4 G can request whole of market reviews for you too, to ensure you are getting best value and best cover.
All clients that take up policies through 64G Ltd can benefit from:
- Increased indemnity of 95% or £1000 first loss; whichever is the greater proportion of the debt. (specific to Nexus Cifs’ policies only)
- £10k discretionary limit which is reviewed by 64G Ltd.
- A direct policy with the insurer with 64G Ltd noted as Policy Manager.
- Having all the policy compliance and admin dealt with on their behalf.
64G Ltd charges for the credit management of your policy separately and direct to you on a monthly basis. For this charge 64G Ltd undertakes the following:
- Monthly reporting to the insurer; providing comfort to the insurer that the policy is being adhered to but relieving you of the time constraints this essential administration requires.
- request of new credit limits and increases on existing customers.
- review all limits within the agreed discretionary limit [DL], as detailed in the policy. Store all documentary evidence used in support of the DL.
- We can review DL on the basis of evidenced payment history, or a supportive credit report from any of several sources such as D&B, Equifax, credit safe etc. if endorsed to the policy.
- Monitor collections and update the insurer accordingly. Helping to maintain the maximum credit cover for you; providing long term security and peace of mind. If you would like us to provide a full credit control service along side our credit management, then please contact us.
Where clients are financing their business through an invoice financier, this service provides comfort and security to the financier to allow them to maximize their funding against credit covered debtors. The invoice financier can be named as 1st loss payee under the policy to further enhance their security.