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Securing financing for a new vehicle can be an exciting milestone, but it comes with important responsibilities. One crucial aspect often overlooked is the requirement for comprehensive car insurance, a stipulation enforced by banks to safeguard their interests. Read all you need to know in this short but important article 👉 https://bit.ly/3I2B2LI

What is #GAPInsurance and how does it work? Guaranteed asset protection #Insurance (otherwise known as "gap insurance") is a type of #CarInsurance that protects you if the value of your #Vehicle is less than the balance of your #AutoLoan. With this coverage, if your #Car is totaled or stolen, you won't be stuck paying a #CarLoan for a vehicle no longer in your possession.

What is #GAPInsurance and how does it work? Guaranteed asset protection #Insurance (otherwise known as "gap insurance") is a type of #CarInsurance that protects you if the value of your #Vehicle is less than the balance of your #AutoLoan. With this coverage, if your #Car is totaled or stolen, you won't be stuck paying a #CarLoan for a vehicle no longer in your possession.

Nevada faces soaring auto insurance premiums, with a staggering 36% hike in 2023 and more increases expected in 2024. Save costs by reevaluating your policy and shopping around. #AutoInsurance #Nevada #Insurify #banking #news #finance #fintech https://lnkd.in/gDUt5dt4

Case Study: Showing an ROI from an insurance product without ever filing a claim. I post a lot about growing sales, enhancing the current credit function, and protecting your business from bad debt losses. Here is a real-life example: I met with a large transportation company recently. While they liked the concept of trade credit insurance, they were hesitant to implement this solution after we reviewed the quote. They had not experienced a history of bad debt write offs and felt that their conservative approach to credit had served them well. I challenged them to go to their sales team and ask for opportunities that they had turned down over the past 6 months due to credit. The results were eye opening. Their credit department had declined over $1M in credit requests over the past 6 months – most of these were simply a combination of risk appetite and an information gap. Based on their terms of sale, this equated for roughly $10M in annual top line revenue missed. We underwrote the entire list and ended up approving 95% of the declined opportunities. The policy would pay for itself even if they only moved forward with 10% of what we approved. They partnered with Allianz Trade on the spot. Their sales have grown, their credit department is now optimized and firing on all cylinders, and they still have the insurance as a safety net in case they don’t get paid. There are many ways to cost justify this policy. Message me to discuss.

Have you ever woken up in the middle of the night worrying about an existing outstanding #receivable ? The customer says they are going to pay you, but have yet to make good on their promise. Might you be second guessing that next shipment of product you sold them when they haven’t paid for their first? Has your customer’s open balance gotten so high that it could now truly hurt your cashflow if they don’t pay? If so, I’d recommend looking into “sleep-at-night” insurance (trade credit insurance). As #forbes recently published in January, credit insurance is the 2nd most important insurance policy that people don’t buy…but should. You don’t think twice when insuring your trucks, buildings, equipment, etc. But the reality is, your A/R can make up to 40% of your assets and is the most commonly uninsured. Not to mention, you are more likely to file a claim on your A/R than the fire insurance for your building. For a fraction of a penny per gallon, it makes almost too much sense to explore how credit insurance can help your company. #credit insurance is a cost-effective sales tool that allows you to insure your receivables so you can safely sell more to your existing customers, go after new customers that may have been a credit risk in the past, and expand into new markets that you originally perceived to be too risky. Credit insurance offers solutions for safe and profitable growth: o  Grow sales safely, domestically and abroad, to new and existing customers o  Protect your business from risk of non-payments o  Make better and faster credit decisions o  Ease tensions between sales and credit o  Avoid personal guarantees o  Borrow better from the bank by eliminating concentrations and obtain higher advances with lower rates o  Eliminate letters of credit and replace them with a tax-deductible insurance provision o  Gives you leverage to collect from your customers Examples of TCI Benefits by Industry   #manufacturing: o  Receiving more comfortability with your client during pre-shipment o  Win more business by requiring less deposits and extending instant credit terms o  Access to more capital from your bank to source more material o  Receive better credit terms or larger credit lines from your vendors #Transportation: o  Need for fast credit approval o  Ability to manage credit seamlessly between 3PL and LTL o  You have short terms, so get your money quickly. o  Support thin margins o  Pre-Screen clients to win loads right away #Construction: o  General Contractors love to have peace of mind when taking on new developers o  Eliminate constraints of pay when paid. o  Get real data to avoid surprise bankruptcies o  Win bids by accepting longer terms o  Get funding to support this. o  Help navigate through disputes Insure your receivables and get some sleep…finally. Cory Watson Ryan Hurtado Bill Durand

The recent surge in auto insurance rates, sometimes exceeding 20%, can be attributed to a blend of factors creating the "perfect storm". How to respond to this as an #insuranceindustry? As these large scale headlines are: ✍️ Driving behavior ✍️ Increasing vehicle repair costs ✍️ Social inflation ✍️ Supply chain issues ✍️ The cyclical nature of the insurance business Being passionate about navigating these complex challenges to achieve sustainable rate adequacy and enhance profitability require a very good overview to deliver #insuranceinnovation to meet the requirements. These would enhace the capabilities to Deliver value to policyholders through innovative and effective insurance strategies. #localrisksglobalinsured #insurance #consulting #policymanagement #rates #cost #insurtech #fintech https://lnkd.in/dYMj9AHd

Spring is just around the corner: Get started with increased conversions and improved CX with MeasureOne's insurance product. Access and verify real-time auto insurance instantly! Learn more: https://bit.ly/3CQSr7M #automationsolutions #insurancefraudprevention #automationtools #autoinsurance

Annual Review / Preview Event 2024 event summary On 10th January TMA UK welcomed over 100 restructuring and turnaround professionals to the Annual Turnaround Review / 2024 Preview kindly hosted by Howden Insurance Brokers Limited . Expertly compered by TMA UK director Andrew J Pepper, the panel consisted of a panel of experts sharing their thoughts on distress and turnaround in 2023 and looking ahead to 2024, including: Joanne Rumley – Restructuring Partner, Foot Anstey and current TMA UK President Elizabeth Howlett – News Editor, Drapers Ed Brittain – Executive Director (Restructuring & Resolution Team), Howden Stephen Jacobs – Director, Christie & Co What did the panel experience in 2023? The changing appetite of lenders was a common theme shared by the panel, with Joanne experiencing sharp changes in lending practice by traditional high street lenders who are exiting specialist industries in favour of more traditional markets. This has created difficulties for otherwise profitable and stable businesses who have their finance withdrawn at short notice. This change of position from the primary market has helpfully led to the growth of a wider market for secondary and asset based lenders to plug these gaps, with new lenders seemingly arising on a regular basis. In the market for business and property sales, Stephen confirmed that deal activity in 2023 reflected the obvious challenges throughout the year, in particular ongoing inflationary changes, interest rates rises and the increased cost of lending. Although instructions remained at a similar level to 2022, these challenges led to a significant decrease in business and asset sales in 2023. After two years of growth, data tracked by Christie & Co illustrated that sale values reduced by 3.5%. As a sign of the difficult trading conditions, Christie & Co experienced a 75% increase on insolvency led sales, representing 10% of total sales in 2023 (a rise from 3.5% in 2022). These views were shared by Ed who reported a significant decrease in sales for business sale warranty insurance, and a steep increase in insolvency related insurance. To read in full click here https://lnkd.in/guivZwKF Thank you to our panellists for sharing their excellent insights on an interesting year for business, as well as their predictions for the year to come. We hope you’ll join us for more TMA events in 2024, many of which will be in person. Visit the TMA UK website events page https://tma-uk.org/events to see what’s coming up.

Uncovering the link between auto insurance and mortgage payments: As car insurance prices soar, clients may feel the pinch in their wallets. Stay ahead of the curve with insights from The Financial Times on the economic implications of rising insurance costs. https://hubs.la/Q02lPHlr0 #InsuranceImpact #MortgageBurden #EconomicAnalysis #FinancialInsights #TheFinancialTimes