HSBC Insurance Brokers has launched Cover Credit, a real-time, interactive online trade credit insurance service for small and medium-sized UK businesses with annual credit sales of between £0.5m and £6m.
Cover Credit protects small and medium sized businesses based in the UK, European Union and other agreed export countries against the risks of non-payment.
Businesses can use the service - developed in association with underwriters Coface - to obtain quotes for credit insurance, credit assessment and collections management services. HSBC promises to confirm online applications within three working days.
The Internet-based system also offers access to an online database containing information on over 44 million companies worldwide.
Bob Brown, director, international credit and political risks division at HSBC Insurance Brokers, says: "Cover Credit can provide the confidence to expand and financial security and peace of mind to budding and established businesses alike, all delivered with minimum fuss and delay."