Credit insurance division closes the loop

Prestgroup has launched
a credit insurance
division headed up by
Yolanda Kitto.
With eight years’
experience in the field,
she believes the
timing is spot on.
“With the
current state of
the economy it
is now more
crucial than
ever for
companies to
take up credit
insurance,”
she told
FTW.
In a
nutshell
it’s the
insurance
of a
company’s
debtors,
giving them a safety net
should a client default
on payment or go into
liquidation or business
rescue.
There were never any
guarantees,
Kitto told
FTW. “I
recently had
a client whose
customer
had paid
religiously
for ten years
without
defaulting
– until last
month he
discovered
that the client
had gone into
liquidation.”
The new division is
targeting companies
across the board – because
defaulters don’t discriminate
and only one major default
has the potential to cripple a
company.
An additional focus for the
division will be bonds and
guarantees.
“With the
majority of
Prestmarine’s
clients
being in the
clearing and
forwarding
industry
we want to
offer them
alternative
options to
the current
financial
institutions.
“It closes the loop in our
‘one-stop’ insurance offering
that now caters for all our
clients’ needs.”
INSERT & CAPTION
With the current state
of the economy it is
now more crucial than
ever for companies
to take up credit
insurance.
– Yolanda Kitto